LOAN AGAINST LIC POLICY

You can bail yourself out from a sticky financial situation or fund immediate personal needs by pledging your securities using our Loans Against Insurance Policy.

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Eligibility

  • Life Insurance policy (Endowment policy)
  • Salaried individuals in permanent employment for minimum period of 3 years
  • Professionals & self-employed persons in business for at least 3 years
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Quantum

Maximum 85% of the Surrender value of the policy

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Security

  • Assignment of Insurance policy in Bank's favour with the Insurance Company
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Rate of Interest

  • PLR less 0.50% i.e. 11.50% p.a.

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Documents Required

  • PROOF OF IDENTTIY
    Aadhar Card / Driving license / Passport / PAN card/ Election card/Job card issued by Govt. agencies
  • PROOF OF RESIDENCE
    Aadhar Card / Driving license / Passport/ Election card / Job card issued by Govt. agencies
  • PROOF OF INCOME - SALARIED INDIVIDUAL
    Form 16A, Latest Salary Slip for 3 months, Salary bank account statement of last 1 year
  • PROOF OF INCOME - BUSINESS
    Last 3 years Balance Sheets/Income Tax Returns and Salary/Business bank account statement of last 1 year
  • Original Insurance policy certificate

LOAN PRODUCTS

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Business Loan

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Scheme for Commercial Transporters

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Pragati Scheme

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Lease Rental Discounting

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Housing Loan

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Personal Vehicle Loan

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Surety/Consumer Loan

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Doctor Care

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Loan Against NSC / KV

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Loan Against Shares and Units of Mutual Funds

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Loan Against Bank Deposit

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Loan Against Insurance Policy

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Gold Loan

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Education Loan

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Travel Loan

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Reverse Mortgage Loan - Aashraya

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Loan Against Property

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Super Bike Loan

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ccbl@citizencreditbank.com

Citizencredit Co-operative Bank Ltd.
CITIZENCREDIT CENTRE
CTS No:236, Marve Road, Orlem,
Malad (W), Mumbai 400064

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