LIC home loans Griha Varishth

Business and Freelance

New LIC Housing Finance has introduced a new home loan scheme in April 2021

The name of this special scheme is Griha Varishth. Under this, senior citizens will be given exemption of six monthly installments (EMI) of home loans.

When will EMIs be waived?

A statement issued by the company said that the benefit of the ‘Griha Varishth’ scheme would be extended to the employees and pensioners covered under the Defined Benefit Pension Scheme (DBPS). EMI There is an additional benefit offered under the discount scheme. Under this scheme, senior citizens taking home loans will not have to pay 36th, 38th, 72rd, 74th, 121st, and 123rd monthly installments.
According to the statement, the borrower under the scheme should be 65 years of age. The term of the loan will be 80 years or a maximum of 30 years, whichever is earlier. CEO of LIC Housing Finance Y. Viswanath Gaur said that Griha Varishth has seen good growth since its launch in July 2020 due to its distinctive features. The company has disbursed about 20,000 loans worth Rs 4,000 crore. Under this, account holders will be given six EMIs. Will be discounted.

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