LIC IPO Update: Russia-Ukraine War May Delay India’s Biggest Ever IPO; No Official Confirmation Yet

In a step towards improving the availability of more options for home loans in semi urban and rural areas, the mortgage loan company LIC Housing Finance is partnering with the Govt-led touchpoint facilities Common Service Centres (CSCs).

Through this partnership, LIC Housing Finance will offer loan products to customers, making use of more than 4 lakh Village Level Entrepreneurs or VLEs, which will be used as a medium for presenting the mortgage lender’s loan products, including home loans, top up loans and loans against property.

To know complete details on the application process for the same and additional information related to the ins of the partnership deal, read further.

LIC Housing Finance X CSCs

The Indian Government introduced the Common Service Centres under its ‘Digital India’ programme, and offers assisted access to essential government and public utility services, social welfare schemes, financial services, education, and skill development courses, apart from a host of other B2C services, stated a news report.

On Thursday, LIC Housing Finance and CSCs entered into a strategic partnership to provide loan products to customers through Village Level Entrepreneurs.

The VLE network will enable the diversification of LIC HFL’s touchpoints and further boost the customers it could actually serve as it would spread its roots in new locations, including rural and semi urban regions.

LIC HFL is a renowned name in the housing loan sector. It has the highest rating from agencies CARE and CRISIL, ensuring its credibility, and offers home loans beginning at an interest rate of 6.7% p.a.

How to Apply for a Loan Under This Partnership?

In order to avail LIC HFL’s loan facilities, customers can approach the Common Service Centers near them directly.

They can then submit the application of their desired facility along with KYC documents like Aadhar Card, driving license, PAN, passport, and your residential address proof, in addition to necessary income documents.

“CSC having a pan-India network catering to the regional, geographic, linguistic, and cultural diversity of the country will help us in our long-term business growth and improve our market share. Leveraging the expertise of both the organisations we aim to provide hassle-free and convenient loans to customers”, LIC HFL’s MD & CEO Y Vishwanatha Gowd stated regarding the partnership.

“Our partnership with LIC Housing will help us reach out to the younger generation who aspires to own a home not just in urban but rural areas too”, Dr Dinesh Tyagi, MD of CSC SPV said.