LIC makes loans against policy dearer; hikes interest rates
By Joseph Samson
May 30, 2012
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State run insurer, Life Insurance Corporation (LIC) has raised the interest rates on loans against policy. The move comes in wake of the arbitrage chances which the policyholders had.

LIC was offering loans against policy at 9%, but there were a few deposit options giving returns of 9.5%, which gave the policyholder an option to earn a spread. The insurer has since changed the interest rates to 10%.

Interest rates, which had been steady for the past few years have changed because of volatility condition, stated an official. The rates on loans would keep changing from time to time, the official further stated. LIC allows the policyholders to take as much as 90% of the policyholder's equity, but only after assigning policy to LIC's name.

Other insurers are also charging interest rates ranging from 10% and upwards with few private banks offering at 12.5%. Insurers with JV with private banks transfer the loan request to the banking partner. LIC has also hiked the interest rate on late payment from 8% previously to 10%.

Loans against Public Provident Funds (PPF) are charged at 2% higher than the interest rate, which is 8.8% currently. Also only 25% of the balance payment of last 2 years can be taken as a loan.


(Comments Posted : 1) Post Your Comments
1. ダウンジャケット さんの自然を理解孔玉は分かる、今も容赦しないで、直接自分のあ
モンクレール エルミーヌ 更に光り輝いて異常へ、住んでいた华月児の手.そして初めての孔
ダウンジャケット 自然で、それは強い方がした选択.孔玉選択で、それは相当でたド
カナダグース ジャスパー ネイビー 光で、しかしあれらの金光より公敗者精錬の矢威力が大きいと、そ
duvetica 人気 炎を操る.観察を通して、孔玉見つけると異能者、彼らはいくつか
デュベティカ公式 唐魅児が激はついにもうかわす、発揮出ました.他の刀をされて、
デュベティカ 新作 らは直接中国から九州大地に押し寄せてきたのは、九州鼎が集まっ
カナダグース 新作 がまだに人形、これが孔玉もっとショックを受けましたが、彼は分
デュベティカ での進歩はどんなに大きい螺旋九影で発揮孔玉の中、再び現れて強
boypebupt (Posted: Dec 10, 2013)
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