936 questions
451 answers
24,816 users
+1 vote
Does LIC provides home loans? I heard that somewhere.
asked Sep 7, 2017 in Home Loan by Sundar (62 points) | 233 views

1 Answer

0 votes
Hi Sundar, let me elaborate your question a bit. Your question has 2 parts :

1. Can I take a loan on my LIC policy?
2. Does LIC offer Home Loans?

Answer to question 1 - yes, you can avail a loan on your LIC policy, if it is an endowment policy. You can get upto 90% of the surrender value of the policy as loan amount. Read more about it on the LIC website - https://www.licindia.in/Customer-Services/Policy-Condition#16 . Looks like the interest rates now are 10.5% or something.

Answer to question 2 - you are asking about LIC Housing Finance :) . They are a separate company and they provide home loans.
answered Sep 7, 2017 by Rakesh Mohan (17 points)
Welcome to Zippserv Q&A, where you can ask questions and receive answers from other members of the community.