India Post will now offer home loans to customers as well, the payment bank arm has tied up with LIC Housing Finance to provide home loan products.
India Post has over 4.5 crore customers over 650 branches and over 136,000 banking access points. The Postal system aims to make LIC Housing Finance's home loan products accessible to its customer's pan-India.
LIC Housing Finance home loan starts from 6.66 per cent for loans up to Rs 50 lakh for salaried individuals. The age of the borrower at the entry of the loan can be up to 65 years and the loan tenure is till the attainment of 80 years of age or maximum up to 30 years, whichever is earlier.