LIC Housing Fin to waive off 6 EMIs beneath ‘Griha Varishtha’


The lender is presently providing dwelling loans beginning at 6.9% for as much as Rs 15 crore for purchasers having Cibil rating of 700 and above.

LIC Housing Finance on Thursday introduced that it’s going to waive off six equated month-to-month instalments (EMIs) beneath dwelling mortgage product ‘Griha Varishtha’. The corporate stated the product caters to clients who’re entitled to get pension beneath outlined profit pension scheme. The purchasers embrace retired or serving workers of public sector insurers, central and state authorities, railways, defence and banks, amongst others.

Y Viswanatha Gowd, MD and CEO, stated: “Griha Varishtha, due to its distinctive options, has picked up nicely since its launch in July 2020. The corporate has disbursed shut to fifteen,000 loans amounting to Rs 3,000 crore.” The six-EMI waiver is a loyalty profit prolonged to the client, he stated.

The EMI waiver shall be provided in opposition to the thirty seventh, thirty eighth, 73rd, 74th, 121st and 122nd EMIs once they develop into due, and adjusted in opposition to the excellent principal, LIC Housing Finance stated.

Beneath Griha Varishtha, a buyer can apply for a house mortgage at a most age of 65 years. The mortgage tenure is fastened until attainment of 80 years of age or a most of as much as 30 years, whichever is earlier. For greater mortgage eligibility, the applicant also can collectively apply with their incomes youngsters.

The lender is presently providing dwelling loans beginning at 6.9% for as much as Rs 15 crore for purchasers having Cibil rating of 700 and above.

LIC Housing Finance’s mortgage portfolio grew 13.3% to Rs 2.06 lakh crore throughout the December quarter (Q3FY21). The housing financier reported a 0.2% year-on-year progress in internet revenue to Rs 567.53 crore throughout the quarter. Complete earnings was up 12.5% to Rs 4,996.45 crore.

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