Quick Answer: How Can I Pay My LIC Loan?

What happens if I pay LIC after due date?

If you are also the one who has missed the payment of LIC premium within the date due, then do not worry.

This is because LIC provides a grace period for LIC premium payment during which you can pay the premium of your LIC policy without paying interest on it..

Can LIC loan be paid online?

You will be directed to a page where you can choose from multiple banks for payment and will be directed to the login page of the selected bank. … On successful login, the total amount to be paid by you towards LIC will be displayed. Please verify your balance (displayed) and confirm the transaction to the bank.

How can I repay my LIC policy loan?

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.

How can I pay my LIC premium loan online?

To pay premiums through the insurer’s website, visit www.licindia.in and click on ‘Pay Premium online’ from the ‘Online Services portal’. Here you will get two options: a) Pay Direct (Without login) and b) Through customer portal.

How much loan can I get on my LIC policy?

How much loan amount can I get on LIC policy? … The maximum loan amount that can be availed will be up to 90% of the surrender value. The maximum loan amount is 85% of the surrender value for a paid-up policy.

What is the interest rate of LIC?

Latest LIC Housing Finance FD interest rate for senior citizens, on the other hand ranges between 5.75% to 5.85%….LIC FD Rates 2020.TenureFD interest ratesSenior Citizen FD interest rates18 months5.50%5.75%1 year5.50%5.75%2 years5.50%5.75%3 years5.60%5.85%1 more row•Oct 8, 2020

Can I pay LIC premium online after due date?

Yes, you can pay your LIC premium online after the due date, but it will attract a late penalty fee @ 8% (minimum of ₹5).

How can I know my LIC loan balance?

How to Check Your LIC Housing Finance Home Loan Approval Status OnlineVisit the official website of LIC Housing Finance Limited.Click on the ‘Home Loans’ tab and you will be directed to the following page:Click on ‘Online Loan Application’ on the left-hand panel and you will be directed to the following page:More items…

What is LIC grace period?

This particular time period is called the grace period. The grace period for policies having a monthly mode of payment premium is 15 days from the due date. The grace period for policies where the premium payment mode is quarterly, half-yearly or even yearly is one month from the due date.

What is the interest rate of LIC loan?

Loan Tenure can range from 5 to 30 years. Interest rates in the range of 6.90% to 7.80%. LIC home loan EMI per lakh starts from ₹ 659. However, you can calculate your home loan EMI using LIC home loan calculator 2020.

What happens if you forget to pay LIC premium?

If you do not pay your life insurance premium on time, do not worry. It can be paid during the Grace Period which is usually 15 to 30 days from the premium date. In case, you do not pay the premium during the grace period, your policy will lapse. You can revive it within three years.

What is the penalty for late payment of LIC premium?

What is the Late Payment Charge for a LIC Premium?Months (Delayed)Late Fee for 1 Re per Premium6%7.50%1st Month0.0050.006252nd Month0.010.01253rd Month0.0150.018753 more rows