GRIHA VARISHTHA

Sept. 8, 2021

India Post Payments Bank (IPPB) under Department of Posts, Ministry of Communications and LIC Housing Finance Ltd (LICHFL), the country’s premier housing finance player, today announced a strategic partnership for providing home loan products to over 4.5 crore customers of IPPB.

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Processing, and disbursement for all home loans will be handled by LICHFL with IPPB responsible for sourcing.
The alliance with LICHFL is part of IPPB’s strategy to expand its range of products and services, and to cater to the banking and financial needs of diverse customers, especially unbanked and underserved, across the country.
Currently, IPPB is distributing various general and life insurance products through partnerships with leading insurance companies, and credit products is a natural extension for the customers at the last mile.
LICHFL’s unique home loan product – Griha Varishtha- is designed for retired or serving employees of PSU insurers, Central/State government, railways, defence, banks etc. entitled to pension under Defined Benefit Pension Scheme.
The age of the borrower at 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.

Source : PIB