Loan against Life Insurance Corporation (LIC) policy or other government-backed savings instruments like National Savings Certificate (NSC) or Kisan Vikas Patra (KVP) is a facility offered by the bank.

Loan against LIC Policy:

1. LIC Policy:- Life insurance policies issued by LIC can be used as collateral to obtain a loan.

2. Interest Rates:-

3. Eligibility:- Generally, you need to complete a certain number of years of premium payments to be eligible for a loan against your LIC policy.

Loan against NSC (National Savings Certificate) :

1.NSC:- NSC are savings certificates issued by the government, which offer a fixed rate of interest.

2. Interest Rates:-

Loan against KVP (Kisan Vikas Patra):

1. KVP:- KVP is another government-backed savings instrument.

2. Loan amount: Like NSC, you can get a loan against KVP, usually up to a certain percentage of the face value of the certificate.

3. Interest rates :

If you have these instruments available, loans against LIC policies, NSC or KVP can be a viable option. Before choosing the loan, pay attention to the terms and conditions including interest rates, repayment terms and consequences of non-repayment.