Quick Answer: How Can I Repay My LIC Loan?

How can I reduce my lic home loan interest rate?

Well, you can easily opt for the LIC HFL Home Loan Balance Transfer Facility at a lower interest rate.

This can help reduce monthly repayment amount.

Both Salaried and Self-employed individuals can opt for this facility in a hassle-free manner.

To opt for this facility, your CIBIL score must be good (700 and above)..

What happens if LIC loan interest is not paid?

If the interest is not paid for 30 days after the due date, LIC can foreclose the policy and settle the loan amount against the proceeds.

Which bank is best for personal loan?

Comparison of Best Personal Loan Providers in IndiaName of the LenderLoan AmountInterest Rate (p.a.)State Bank of India (SBI)Up to Rs. 20 lakh.9.60% onwardsHDFC BankUp to Rs. 40 lakh.10.75% onwardsICICI BankUp to Rs. 20 lakh.11.25% onwardsAxis BankUp to Rs. 15 lakh.12% onwards4 more rows•Nov 19, 2020

How can I pay my LIC premium loan online?

To pay premiums through the insurer’s website, visit www.licindia.in and click on ‘Pay Premium online’ from the ‘Online Services portal’. Here you will get two options: a) Pay Direct (Without login) and b) Through customer portal.

What is LIC grace period?

The grace period for policies where the premium payment mode is monthly is 15 days from the due date. The grace period for policies where the premium payment mode is quarterly, half-yearly or yearly is one month but not less than30 days.

What is the interest rate of LIC?

Latest LIC Housing Finance FD interest rate for senior citizens, on the other hand ranges between 5.75% to 5.85%….LIC Housing Finance FD Rates 2020.TenureFD interest ratesSenior Citizen FD interest rates18 months5.50%5.75%1 year5.50%5.75%2 years5.50%5.75%3 years5.60%5.85%1 more row•Oct 8, 2020

What is the interest rate of LIC loan?

Loan Tenure can range from 5 to 30 years. Interest rates in the range of 6.90% to 7.80%. LIC home loan EMI per lakh starts from ₹ 659. However, you can calculate your home loan EMI using LIC home loan calculator 2020.

How do I check my loan status?

You can simply visit the website of the lender and track your loan status with the following details:Application reference number.Mobile number.Date of birth.Name.

Can LIC loan be paid online?

You will be directed to a page where you can choose from multiple banks for payment and will be directed to the login page of the selected bank. … On successful login, the total amount to be paid by you towards LIC will be displayed. Please verify your balance (displayed) and confirm the transaction to the bank.

How can I know my LIC loan balance?

How to Check Your LIC Housing Finance Home Loan Approval Status OnlineVisit the official website of LIC Housing Finance Limited.Click on the ‘Home Loans’ tab and you will be directed to the following page:Click on ‘Online Loan Application’ on the left-hand panel and you will be directed to the following page:More items…

Does LIC give personal loans?

These secured personal loans against LIC policy are available at an attractive interest rate starting at as low as 9% and come with a flexible repayment tenure ranging up to 5 years….LIC Personal Loan Interest Rate 2020.Interest RateStarts from 9%Loan Amount90% of the policy’s surrender valuePre-payment ChargesNilForeclosure ChargesNil1 more row•Oct 20, 2020