Do you have an LIC policy? Do you want to take a loan ..? Do this though. This will make it easier for LIC customers to get a loan. Find out now why it’s so late.
LIC policyholders can avail personal loan on their policy. That means the policy must be mortgaged. When it comes down to it, you can get a loan on a variety of policies such as బ్యా Money Back, Endowment, Annuity. Loan facility is not available on all types of policies. Term, not to take a loan on health plans.
If you look at the interest rates .. The interest rate on loans obtained on LIC policy is lower than the interest rate charged by banks on personal loans. LIC is currently charging 10.5 per cent interest.
Note that LIC offers loans up to 90% of the value of your policy surrender. Documents like bank statement, salary slip, Aadhaar card, cancellation check are required. Also the policy document must be given. You can apply for a loan online. Or go to the LIC office and contact.
The LIC policy premium must be paid for exactly three years. A loan with a tenure of at least 6 months is required.
Also, the loan interest must be paid twice a year.
If you do not pay the loan money then LIC will deduct the loan money from your policy money.
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