How can I repay my LIC policy loan?
Aria Murphy 
You can follow any of the LIC loan repayment procedures:
- pay the interest along with the principal.
- pay only the interest and principal amount can be settled with the claim amount on the maturity.
- pay interest for a few years and repay the principal when you have excess cash.
Can I surrender LIC after taking loan?
Can I surrender an LIC policy against which I have availed a loan? You have the option to surrender a policy against which you have availed a loan, but the surrender value paid to you will be adjusted for the outstanding loan amount along with applicable interest.
What is the interest rate on LIC loan?
LIC Home Loan Details
| Loan Amount | Rs.1 lakh – Rs.15 crore |
|---|---|
| Interest rate | 6.90% p.a. onwards |
| Current LHPLR | 14.70% |
| Processing Fees | 0% – 0.50% |
| Max Repayment Tenure | 30 Years |
How can I know my loan details in LIC?
Check LIC Loan Interest Amount Online
- Enter your login credentials. Enter User ID > Password > Date Of Birth > Click Sign In and wait till the page loads.
- Select Online. Click Online Payments.
- Tap Loan Interest. Hover and Click on Loan Interest Payment.
- Select Policy.
- Find details.
How to take loan on LIC policy online including repayment?
You can take loan from existing LIC policy. You repay the loan with interest or continue with paying the interest part only and the principal amount is to be deducted during policy maturity. Here is the detailed guide how to take loan on LIC policy. In this post we will discuss loans against LIC policies, structure, Eligibility, interest rate etc.
When do you have to pay interest on LIC policy?
If repayment of loan is done within this period the interest for the minimum period of six months will have to be paid to LIC. In case the policy becomes a claim either by maturity or death within six months from the date of loan, interest will be charged only up to the date of maturity/death.
Can a LIC foreclose a loan if it is not settled?
If the loan is not settled, LIC can foreclose the policy and use policy proceeds to settle the loan. LIC can also foreclose the policy and use proceeds to settle the loan if you do not pay interest within 30 days from the due date.
How old do you have to be to get a LIC loan?
You can apply for LIC loans if you meet the following eligibility criteria – You are aged 18 years and above You are the policyholder and own a LIC policy The policy that you own allows loan facilities
