LIC Loans

Facility:                       Term Loan

Eligibility:                    Individual or Firm

Purpose: 

Agricultural/Education/ Small Business/ Profession/any other to meet Short time Financial Requirements.

Security

LIC Bonds

Rate of Interest:    10.00% PA

                                 Click here for updated interest rate

Loan Limit:             Maximum Rs.100.00 Lacs

Max Loan period:  15 Months

Repayment:           Monthly installment or by Bullet payment

Margin:                   Up to 85% of Bond Value/Surrender Value

Basic Documents:                 

» KYC documents of Borrowers and Guarantors.

» Fixed Deposit Bonds of our Bank.

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Interest method:        Diminishing Method

Processing Fees:       Nill

Terms & Conditions:  As per Bank’s Loan Policy. 

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