Free Press Journal

LIC Housing Finance to provide loan at concessional rate to flood-hit victims in Kerala


New Delhi: LIC Housing Finance will offer loans up to Rs 15 lakh at concessional rate of 8.5 per cent to customers in flood affected areas of Kerala. Under the scheme, loan up to Rs 15 lakh will be extended for properties located in the flood affected areas of Kerala for the purpose of reconstruction, repair, renovation or up-gradation of dwelling units, the company said in a statement.

Announcing the plan Monday, LIC Housing Finance said ‘Kerala Flood Scheme’ will be offered at 8.5 per cent special rate of interest. Customers can apply for loan till October 31.

Also as a relief for its existing customers, the company has decided not to levy any additional charges arising due to late payment of EMI for the month of August and September 2018, it said further. All ancillary charges resulting from such late payments and recovery charges also have been waived till September 2018. “We have sensitised our teams in the state to support the customers in every possible way. LIC Housing finance stands strong in support of Kerala and its people,” said MD & CEO Vinay Sah.