Personal Loan Scheme For Public

Objective To make available Financial Assistance to the public for their personal needs.
Purpose To meet all types of personal needs (e.g., for medical treatment of self or a family member, marriage of self, son/daughter, defraying expenses on education of wards, expenses for domestic or foreign travel etc.)

i. Drawing salary from our Bank:

Confirmed/ permanent employees of Central/ State Govt./ PSUs minimum 2 years of service, including service with the previous employer(s), if any.

ii. Check-off facility:

Others minimum 3 years of service, including service with the previous employer(s), if any.

iii. LIC agents aged below 60 years with more than five years of agency, having regular and stable income and maintaining SF a/c with our branch.

Quantum of Finance

Up to 15 times of Gross Monthly Salary with a maximum of Rs.10.00 Lakh.*

Margin NIL
Security Suitable third party guarantee acceptable to the Bank
Repayment (Maximum)

Term Loan:

The entire loan (principal & interest) shall be repaid within remaining period of service or in maximum 60 (sixty) equated monthly installments (EMIs). Repayment to start one month after disbursement of the loan.


The Overdraft Limit shall be adjusted within remaining period of service or in maximum period of 60 months by reducing Drawing Power (DP) equivalent to EMI amount at the beginning of every month.


60 EMIs or upto 65 years of age of LIC agent, whichever is earlier.

Personal loans allowed to Defence Personnel including officials of Military Station Headquarters, Border Security Force, Central Reserve Police Force, Central Industrial Security Force, Indo Tibet Border Police etc. shall be Repayable in maximum 60 equated monthly installments.

Prepayment charges NIL
Rate of Interest Click Here
Processing Charges/ Upfront fee Click Here
Documentation Charges Click Here

Above are only salient features of the scheme. For details please contact nearest branch

*Loan amount will also depend on maximum permissible deduction permitted under the scheme

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