LIC Policy Loan: The Cheapest Emergency Loan
| Type | Interest Rate | Tenure | Processing |
|---|---|---|---|
| LIC Policy Loan | 10% p.a. | Flexible | 3-5 days |
| Personal Loan | 14-24% p.a. | 1-5 years | 2-7 days |
| Credit Card | 36-42% p.a. | Revolving | Instant |
| Gold Loan | 9-12% p.a. | 1-2 years | Same day |
LIC policy loan beats personal loans significantly on interest rate. If you have an LIC policy with 3+ years of premiums, always prefer policy loan over personal loan for emergencies.
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