LIC Housing Financehas introduced a new housing loan scheme for self employed people where the monthly loan repayment schedule might be tweaked to daily or quarterly basis.
Mr. V S Sharma, Director and Chief Executive officer of LIC Housing Finance said, "Other than the Equated Monthly Installments (EMIs) system (meant for service class), we are planning to have an arrangement for self employed category in such a manner that where money (housing loan installment) can be deposited (by borrower) on daily basis or quarterly basis".
"We plan to launch this loan scheme next fiscal," Mr. Sharma said. Currently, the LIC Housing Finance has just 15 per cent of total loan portfolio as self-employed customers.
In an effort to lend more to women, LIC Housing Finance introduced woman-oriented home loan scheme 'Bhagya Lakshmi' on January 7th this year wherein interest rate will be 0.25 per cent lesser on home loans if property is in the name of a woman.
LIC Housing Finance has over 8 lakh customers comprising 2 lakh women customers.