LIC Housing Finance EMI Stop Process Moratorium
LIC Housing Finance EMI Relief – process, Application form details online for 6 months COVID 19 measures. April, May, June, July, August
PEMI/EMI relief under COVID-19 measures
Salient Features of “Relief – COVID 19” – Reschedulement of Pre EMI / EMI.
- Borrowers of Retail (Home Loans) and Corporate loans, who have been economically impacted due to COVID -19, may exercise an option by making a request, atleast three days before due date of installment payment falling due between 01/03/2020 and 31/05/2020 at our web-site www.lichousing.com or mail to consent@lichousing.com
- In case of Corporate loans, option is to be exercised by the representative duly authorized by the Company/ Firm for this purpose.
- Interest shall continue to accrue on the outstanding portion of the loan during the moratorium period. Eligible Borrowers will have two options to pay the accrued interest as below:a. Upfront payment of accrued Interest on completion of moratorium period. OR
b. Capitalize the accrued interest, which will be added to the loan amount outstanding and the same will be recovered by extending the term of the loan. Borrowers making a request as provided in (i) above, shall at the same time can opt for any the two options mentioned above. - Moratorium is only a temporary relief to tide over the economic fallout due to COVID – 19 and not to be construed as a waiver.
- Borrowers who do not exercise this option, shall continue to pay their instalments as per normal terms and conditions.
Click here to give consent “Please click here”
Link to Stop EMI under Covid 19 – Click Here
NOTE :
- Please read salient features before proceeding.
- Please use the option only if you are taking the moratorium.
- Last date of applying is 12th April 2020.
Here’s the Link for Stop EMI in LIC Housing Finance – Here
