Aspects

• Hassle-free Loan Processing.
• Quick disbursal.
• Minimal documentation.
• No guarantors.
• Maximum loan limit is 70% to 90% of surrender value.
• Maximum loan tenure is 3 years.
• Pre-Payment Penalty : NIL

ROI & Handling Charges

• Rate of Interest is 14%.
• Processing Fees : Rs. 500.00
• No Handling Charges.

Eligibility

• Applicant must have a valid LIC policy.
• The LIC policy used for obtaining loan has guaranteed surrender value.
• At least 3 years of LIC premium has to be paid in full.
• An individual applying for a loan should prove that he/she is the owner of the NSCs against which a loan is being availed.
• The applicant must have the Kisan Vikas Patra certificate in their own name.
• Age = 18 to 70 years.

Documents and Security

• Surrender Value Certicate
• Assaignment of LIC Policy
• Pledge of NSC/KVP