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The Jhalawar Nagrik Sahkari Bank Ltd

  • MAIL US

    mcsharma@jnsbwm.onmicrosoft.com

  • PHONE US

    07433222239, 9414191550

LIC POLICY LOAN

  • Loan
  • /
  • LIC POLICY LOAN


LIC POLICY LOAN

In addition to the insurance plans, Life Insurance Corporation of India (LIC) also offers secured personal loans known as loans against LIC policy. This type of loan can be availed by depositing your LIC policy as a security or collateral. Being a secured loan, you can avail this personal loan at comparatively low-interest rates to meet your urgent requirements.


TERMS

    Eligibility :
    • Minimum age of the applicant should be 18 years
    • Applicant must have a valid LIC policy
    • The LIC policy used for obtaining loan has guaranteed surrender value
    • At least 3 years of LIC premium has to be paid in full
    Interest Rate : 14.80% onwards
    Quantum of finance : As per eligibility of the borrower.
    Margin : 10 % of the showroom price and 20percent for old vehicle.
    Security : DDO undertaking and one employee guarantor with DDO undertaking.
    Repayment : Maximum 7 years for new vehicle and 5 years for old vehicle or date of superannuation of the applicant whichever is earlier.

*All other Terms & Conditions Applied. For more information please contact our Branch nearest to you.