Mr. V .K . Sharma,
Director and Chief Executive, LIC HFL
said, “Other than the equated monthly instalments (EMIs) system (meant
for service class), we are planning to have an arrangement for self - employed category in such a manner that where
money (home loan installment) can be deposited (by borrower) on daily basis or
/ quarterly basis,“
Mr. V .K . Sharma
also said, ''India's largest Life Insurance company The LIC of India promoted
housing finance company will target wide variety of sectors including small
businessmen traders, farmers, shopkeepers etc for this new housing loan
facility. “We plan to launch this loan scheme next financial year (2013-14)''.
"EMI repaying
system was more skewed towards service class, he hoped that the new home loan
scheme would benefit self - employed people who faced innumerable problems in
availing home loan from financial institutions. The credit appraisal of self - employed
which is another issue is currently being looked into by LIC HFL'' Mr. V .K .
Sharma added.
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