Investor Education
LIC Housing Finance FD Interest Rates: Eligibility, Document Required and Key Fe
LIC HOUSING FINANCE FD INTEREST RATES
LIC HFL (Housing Finance Limited) is one of the largest finance companies across the nation. It offers a number of FD plans to investors which suit their needs. These FDs are offered under the umbrella of sanchay scheme. LIC offers decent interest rates among other benefits. This is a public deposit scheme that was launched way back in the year 2007that is Crisil rated FAAA/stable. As of now, the highest rate of interest paid on LIC FDs is 5.6% per annum for the general public.
In this article, we are going to talk in detail about the LIC Housing Finance Fixed Deposits and their interest rate. Let’s get started.
ELIGIBILITY
| Who can open | Resident Individuals, HUF, Partnership firms, Sole Proprietorship firms, Family Trust, Clubs, societies, Association and Companies including group companies. |
| Can NRI deposit in Bajaj finance FD? | Yes |
| Investment Amount | Min: Rs. 10,000 Max: No Limit |
| Tenure | Min: 1 Year Max: 5 years |
DOCUMENTS REQUIRED
- ID proof which can be PAN, PAssport, License, Aadhaar or Voter ID.
- Proof of Address which can be the latest bank statements, license, registered rent agreement, latest utility bill.
- PAN Card
- Some optional documentation may include Certificate of Registration, Resolution of the management committee, Telephone bill among others.
KEY FEATURES
- Investors are allowed to do additional deposits in the multiple of Rs. 10,000 for monthly deposits and Rs. 1,000 for yearly deposits is allowed.
- Senior citizens gain an additional 0.25% on savings ranging from Rs. 20 thousand to less than Rs. 2 Crs.
- A nomination facility along with an automatic renewal option is offered.
- Partly withdrawal and loan facility is available against deposits.
LIC HOUSING FINANCE PUBLIC DEPOSIT SCHEME (Less than Rs. 20 Crs)
| Terms | Interest rate p.a. For monthly option (Non-cumulative Deposits) | Interest rate p.a for the yearly option (cumulative & Non-Cumulative Deposits) |
| 1 Year | 5.10 | 5.25 |
| 1.5 Years | 5.35 | 5.50 |
| 2 Years | 5.50 | 5.65 |
| 3 Years | 5.60 | 5.75 |
| 5 Years | 5.60 | 5.75 |
Here, Senior citizens will get an additional 0.15% per annum interest.
LIC HOUSING FINANCE PUBLIC DEPOSIT SCHEME (More than Rs. 20 Crs)
| Terms | Interest rate p.a. For monthly option (Non-cumulative Deposits) | Interest rate p.a for the yearly option (cumulative & Non-Cumulative Deposits) |
| 1 Year | 4.50 | 4.60 |
| 1.5 Years | 4.75 | 4.85 |
| 2 Years | 4.90 | 5.00 |
| 3 Years | 5.00 | 5.10 |
| 5 Years | 5.00 | 5.10 |
LIC HF CORPORATE DEPOSIT SCHEME
| Term | Interest rate p.a. For monthly option (Non-cumulative Deposits) |
| 1 Year | 5.25 |
| 1.5 Years | 5.50 |
| 2 Years | 5.65 |
| 3 Years | 5.75 |
| 5 Years | 5.75 |