LIC Housing Finance will waive 6 EMIs, spread across the tenure of the loan, under the Griha Varishtha scheme designed for public sector pensioners. Borrowers under this scheme, available to those eligible for defined benefit pension, will get a waiver of the 37th, 38th, 73rd, 74th, 121st, and 122nd EMIs, which will be adjusted against the outstanding principal.
- Viswanatha Gowd, MD & CEO, LIC Housing Finance, stated that the company has disbursed around 15,000 loans amounting to Rs. 3,000 crore under the scheme, which is available for applicants up to 65 years of age with the loan tenure up to 30 years or 80 years of age, whichever is earlier.
The EMI waiver is an additional benefit being provided under the scheme. The loan can be used to buy an apartment or construct a house or also for repairs or extension to an existing property. Borrowers fulfilling the Pradhan Mantri Awas Yojana Credit Linked Subsidy Scheme are eligible for interest subsidy of up to Rs. 2.67 lakh.
