Can I take a loan on my LIC policy?

LIC offers loan against their insurance policy, which individuals can use for their own personal or commercial needs. The LIC Insurance Policy acts as collateral for the loan taken. Any outstanding loan amount would be deducted from the maturity benefit if the policy matures and the loan is not repaid.

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Just so, can we take loan against LIC policy online?

You can apply online for a loan against your LIC policy. Here are the steps you need to follow to apply for a loan against your LIC policy. It should be noted that the online facility to apply for the loan against LIC policy is available only to registered customers.

Hereof, how much money will I get if I surrender my LIC policy? If you surrender after 3 years, the surrender value will be around 30% of the premiums paid, excluding the premium paid in the first year and the premiums paid towards accidental benefit. So, the later the policy surrendered, the higher will be the LIC surrender value.

Simply so, is Bajaj Finserv good company?

Bajaj finserv is a good company. Higher business and growth. … But I am doing very good business in this company.

Is it good to take loan?

If you need a quick influx of cash to pay for necessary expenses, a personal loan may be a good option. Interest rates for personal loans are usually lower than those of credit cards, especially if you have an excellent credit score. Of course, you should always weigh the benefits with the drawbacks.

Is it safe to take loan from Bajaj Finserv?

If you’re alert, cross check the details and opt for known financial institutions. This way, you will be safe. The pre-approved offers from Bajaj Finserv on their loans and other financial services make getting a personal loan safe, easy, quick, and convenient.

What is the cibil score?

CIBIL Score is a three-digit numeric summary of your credit history. The score is derived using the credit history found in the CIBIL Report (also known as CIR i.e Credit Information Report). A CIR is an individual’s credit payment history across loan types and credit institutions over a period of time.

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