LIC IPO: SBI has also come up with a special loan offer to invest in LIC. Under this offer, LIC employees are getting IPO loans up to Rs 20 lakh.
New Delhi. After a long wait, the country’s largest IPO (LIC IPO) has opened for the subscription of the people. LIC IPO was launched on 4th May. It can be subscribed till 9th May. In just 2 days, this IPO has been subscribed more than 100 percent. Meanwhile, to invest in this IPO, the country’s largest state-run bank SBI has also come up with a special loan offer for LIC employees.
tell thatLICto the employees ofIPO45 per equity share will get a discount of Rs. Individuals can bid up to a maximum of Rs 2 lakh. This means policyholders applying under both employee and retail categories can bid up to Rs 4 lakh.
Only LIC employees can take this offer
According to SBI’s website, this loan offer has been designed to invest in LIC IPO. Under this offer, a loan of up to Rs 20 lakh or up to 90% of the total share value can be availed. However, only LIC employees can take advantage of this offer of SBI.
Features of SBI Offer-
1. All employees with one year fixed service are eligible to apply.
2. Loan up to Rs 2.20 lakh can be taken.
3. Special interest rate of just 7.10 per cent per annum with 3.100 per cent margin
4. This loan can be taken for 60 months i.e. up to 5 years.
5. The bank has also waived the processing fee on this loan.
6. There is no prepayment penalty for pre-closure of the loan.
7. No security or guarantee is also required
8. The loan amount will be directly transferred to the salary or savings account of the borrower.
