LIC HFL Launches 'Griha Rakshak' Home Loan Scheme

Tags: Government Schemes Economics/Business

LIC Housing Finance Limited (LIC HFL) has introduced the 'Griha Rakshak' home loan scheme for Indian armed forces personnel.

An Overview of the News

• The scheme provides discounted interest rates and special benefits for both serving and retired members.

Scheme Details

• Eligibility: Applicants must have a Credit Information Bureau India Limited (CIBIL) score of 750 or above.

• Loan Amount & Interest Rate: Offers loans up to ₹2 crore at an annual interest rate of 8.4%.

• Processing Fees: Processing fees are waived under a limited period offer.

• Offer Validity: Available until September 30, 2024.

• Target Group: Open to all active and retired personnel from the Indian Army, Indian Navy, Indian Air Force, Indian Coast Guard, and paramilitary forces.

About LIC HFL

• Established: 1989

• Headquarters: Mumbai, Maharashtra

• Managing Director and Chief Executive Officer (MD & CEO): T. Adhikari