On Thursday, LIC Housing Finance announced that it is going to say no to the six equated monthly installments (EMI) which is related to the product of Home Loan, calls as Griha Varishtha.
This specially focuses to the customers, who are supposed to get pensions under defined benefit pension scheme. The customers also includes retired or serving employees of public Sector insurers, central and state Government, Railways, defence and Banks among others.
Under this scheme, Griha Varishtha, A customer can apply for a home loan at a maximum age of 65 years. Tenure for the loan is fixed till attainment of 80 years of age or Maximum of upto 30 years ( whichever is earlier).