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3/6/19

Lic Home loan : Lic Hfl to offer home loans up to 75 years of age

LIC Housing Finance's big announcement, pay home loans up to the age of 75
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LIC Housing Finance will be able to increase its reach in the home loan segment with this partnership as it will lend to people who do not get salaries and no other credit history is due to other lenders.

Highlights

LIC Housing Finance will also offer home loans to non-salaried people.

The company says it will offer home loans to those who have no credit history.

LIC Housing Finance has partnered with the India Mortgage Guarantee Corporation for this.

Mumbai
Now you can take home loan from LIC Housing Finance (LICHFL) and settle it till the age of 75 years. For this, the company has partnered with the India Mortgage Guarantee Corporation (IMGC). The case of IMGC defaults provides insurance.

LICHFL's MD and CEO Vinay Shah told the Times of India that in partnership with IMGC, we will be able to provide a long-term home loan to those who are not paid. He said, "This will also provide a higher level of mortgage for the loan."

For small premium payment, the IMGC will guarantee a repayment of 20% of the total outstanding loan. This guarantee will be equal to at least six EMIs. With this, LIC Housing Finance will get the time to spend the home without damages. One time premium of the loan will be 0.9 percent to 1.5 percent. It will have to be repaid to the lender who will be able to make a claim in the EMI.

According to Shah, LIC Housing Finance will be able to increase its access to the home loan segment with this partnership as it will lend to people who do not get salaries and no other credit history, because other lenders do not offer them.
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