Cyclone Fani: LIC brings 'quick and simple' home loan

Bhubaneswar: The Life Insurance Corporation (LIC) of India has come up with an easy financial solution for the cyclone Fani affected people in the form of home loans.

LIC CEO Siddharth Mohanty on Monday informed that those whose houses were damaged in the severe cyclonic storm Fani, can get loans at a discounted interest rate. He further said that applications for the same can be submitted by September to avail the benefit by the end of this year.

"LIC Housing Finance today approved the home loan scheme under which loans will be given to renovate and rebuild houses affected in cyclone Fani. Those affected can apply for loan by September 30, and they can get the loan amount by the end of December 2019," said Mohanty.

As per reports, at least 5 lakh houses were damaged in the disastrous cyclone Fani that made landfall in Puri district with wind speed of up to 240 kmph on May 3, 2019.