Loan against LIC / NSC

  • Insurance Policy by Public or Private Insurers is another type of pledged security against which Loan facility can be obtained. The bank or lending institute determines the actual amount of premium paid on the insurance policy and the amount on maturity to set the Loan limit. In case of the death of customer the overdrawn amount is recovered from the claim settlement on the policy from the Insurance Company.

  • Top reasons to get Loan Against Securities

  • It is fast and convenient
  • Interest charged on actual amount utilized
  • No EMI or post dated cheques required