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Steps to Avail a Loan Against LIC Policy Visit the nearest LIC branch office. Fill out the loan application form. Submit the required documents. Once processed, the loan will be disbursed within 3-5days.
LIC Home Loan Details Loan AmountRs.1 lakh - Rs.15 croreInterest rate6.90% p.a. onwardsCurrent LHPLR14.70%Processing Fees0% - 0.50%Max Repayment Tenure30 Years
How much loan amount can I get on LIC policy? The loan amount is given on the basis of the surrender value of the LIC policy. The maximum loan amount that can be availed will be up to 90% of the surrender value. The maximum loan amount is 85% of the surrender value for a paid-up policy.
How To Apply For A LIC Personal Loan Offline? Visit the nearest bank branch or LIC office that provides personal loans against LIC policy. Fill the loan application form. Submit KYC and policy documents for verification. As soon as the documents and the policy is verified, your loan is approved.
Steps to Avail a Loan Against LIC Policy Visit the nearest LIC branch office. Fill out the loan application form. Submit the required documents. Once processed, the loan will be disbursed within 3-5days.
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People also ask

One can get the loan amount disbursed fast against the security of life insurance policy, often within 24 hours. Also, there is no need to submit extra documents or security and the rate of interest on this loan is also low. Moreover, you can repay the loan taken on the LIC policy as per your convenience.
The maximum amount that can be availed against a LIC policy will be 90% of the policy's surrender value. However, in the case of paid-up policies, where premiums are not being paid anymore, you can avail a loan amount up to a maximum of 85% of the policy's surrender value.
Definition: Proposal form is the most important and basic document required for life insurance contract between the insured and insurance company. It includes the insured's fundamental information like address, age, name, education, occupation etc.
How much loan amount can I get on LIC policy? The loan amount is given on the basis of the surrender value of the LIC policy. The maximum loan amount that can be availed will be up to 90% of the surrender value. The maximum loan amount is 85% of the surrender value for a paid-up policy.
Can I get a loan against any policy? You can get a loan against a list of approved policies. These include unit-linked plans, endowment plans, whole life plans and income plans from many insurers. However, a term insurance policy may not entitle you to a loan.

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