Loan Agains Govt. Securities/ LIC Policy Loan

LOAN AGAINS GOVERNMENT SECURITIES / LIC POLICY LOAN   

Purpose of loan Against LIC Policy/ NSC certificate/ Indira Vikas Patr/ Kisan Vikas patr. Etc    
Age Limit Minimum 18 Years & 60 Years 1. Gaurantor Compulsary required  
Constitution Individual/ Proprietary firm/ Partnership firm/ HUF/ Company    
Rate of Interest       
Bank Finance 60-70% of Securites Surrender Value    
Margin 60-70% of Securites Surrender Value    
Limit of loan Upto 2 Lakhs    
Eligibility Criteria 1.Self Employed / Businessmen /Professionals having a regular source of income    
Repayment period Maximum 36 Months/ 48 Months/ 60 Months    
Process fee 150+GST    
Collateral Security Securities Gold Ornamant Except GOLD COIN/ BISCUITS    
Share Linking 100/- Nominal Member    
Document required 1. Duly filled and sing by prescribed application form Borrowar, Co Borrowar and Gaurantor 2. Latest 2 Photograph, KYC : Photo Identity Proof, Residence proof of the Borrowar, Co Borrowar and Guarantors Assainment of LIC Policy/ NSC certificate/ Indira Vikas Patr/ Kisan Vikas patr. Etc
Others 1 loan charge interest or emi payable before 15th of every month 2. loan charge interest or emi payable after 15th of every month 2% additioanl penalty charge 3. Rebate Credited to Loan account 20th of Every Months

 

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