As per your demand here I am providing you information about the LIC Personal Loan like its features.


Here I am telling you about it, as you want;


Here are some of the features of these loans:
You get 90% loan of your Special Surrender Value provided your policy has completed 3 years

No minimum limit set on Loan Amount

You can continue to pay interest for as long as you want

You can repay the principal amount any time after 6 months

Repayment can be made either through cash or cheque at home branch

No Pre-closure charges

Terms and conditions of your Policy stand as is

Loan Money is Credited to your account through NEFT within 10 working days

No documentation required, only your original LIC Policy, Loan form, ID proof and copy of cancelled cheque for crediting the amount

No EMI is to be paid

No Processing Fees

No Hidden Charges

Interest paid is Simple Interest

Interest is only paid half yearly based on your policy commencement date

No date on Interest Payment. You can pay it on any date of the month in which it is due without penalty

You may choose not to repay Principal Amount at all. No worries you will still get your Maturity Sum minus Loan Amount


Points to be remembered before opting for LIC Loan
As on today Rate of Interest is 9% per annum.
You may observed that interest rates are hiking now a days frequently due to the guidelines of RBI in view of inflation.
But 9% is very low rate of interest comparing to other financial institutions.
It means 0.75% per month.

Interest calculated twice in a year.
That means for every six months.

There is no Fixed EMIs for Repayment.
You can pay as much principal as you can.

Interest calculation will be done on outstanding to be paid principal.
So if you pay Principal frequently your Interest amount will reduced.

After completion of your repayment, you receive your policy document submitted at the time of receiving a loan.

Loan Amount eligible can known at the branch where you hold the Premium or Internet Account.

If you are unable to pay the principal, pay only interest, principal amount will be adjusted at the time of maturity of your policy.

Online payment facility not applicable for loans repayment, you should pay the amount at the Loan receiving branch only.