Need personal loan at low interest rate of 10.5%? Take the Loan against your LIC Policy

Personal loans help us in the hours of urgency. Be it for marriage, vacation, education, medical emergency or any foreseen circumstances, personal loan is the way out for all of us. However, these loans come at a very high cost. The interest rates on personal loans generally vary from 16.5% to upwards of 24%. You realize the implications only once you start repaying the EMIs and check the interest component of it. And by any chance if you fail to repay couple of EMIs then you are in big trouble with the bank and recovery agents chasing you from your home to office. This is not all, your name will be registered in CIBIL and you may not get any loan ever in your life.

However if you have an LIC Policy, taking loan against your policy keeps you away from all these hassles. These loans are the best option for personal loan as they come at interest rates even lower to Home Loans. The loan against LIC policy comes at very low cost of 10.5%.

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

Just remember that there is a provision for broken interest. In simple terms it means if your LIC Policy commenced on 01.01.2004 and you took a loan of 50 thousand on this policy in the month of March 2014. Then you will have to pay a broken interest of 1312.5 rupees for 3 months in the month of June 2014 calculated at a simple interest rate of 10.5%. After this the next installments will follow a six month cycle.

This is the best option available currently and should be exercised when in need. After all it’s your own money!

  • madela

    hello do you need a financial loan to pay off your debt and start up a good business or to purchase land, purchase car,…if so kindly come to this bank where any amount of loan is been lendable via email….unitedbankofchina@gmail

  • Fred Peterson

    Loan offer at 3% interest rate if interested, apply now at fredpetersonworldloan@yahoo.com or fred112.peterson@gmail.com.

  • Fred Peterson

    Loan offer at 3% interest rate, apply now if interested. Contact us today at fred112.peterson@gmail.com or fredpetersonworldloan@yahoo.com.

  • prashanth

    Sir iam prashanth I have 2 policy of value of 3 lakhs and it is 15 years policy I have paid 12 years I have another 3 years to pay I want 50000 loan how can I get

  • kelvin

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  • kelvin

    Welcome to private loan lender Investment Company(A Personalized Service for All Your Financial Needs)We, offers loanat a very low interest rate of 3%, we offer Personalloans, Debt Consolidation Loan, Venture Capital,Business Loan, Educational Loan, Home Loan, andLoan for any reason and urgent needs!. with amaximum duration of 30 years.Have you been turned down by your bank? Do youhave bad credit? Do you have unpaid bills? Are you indebt? Do you need to set up a business? Worry nomore as we are here to offer you a low interest loan.Our loan ranges from $3,000-USD (three Thousand USdollars) to$50, 000,000.00.(Fifty Million US dollars). We alsolend in USA DOLLARS EURO and POUNDS !!FORWARDED TO THIS EMAIL: ultimateloanservice2@gmail.com

    1. Your Full names:_______

    2. Contact address:_______

    3. Country Of Residence:______

    4. Loan Amount Required:________

    5. Duration:_____

    6. Gender:_____

    7. Occupation:________

    8. Monthlay Income:_______

    9. Daate Of Birth:________

    10.Telephone Number:_________

    Yours In Service,Email: ultimateloanservice2@gmail.com

    ===

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  • Soumya.A

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