LIC Housing Finance FD Interest Rates (p.a.) Highlights 2024 |
|
Highest slab rate | 7.75% (for 3 years and 5 years) |
For 1 year | 7.25% |
For 2 years | 7.60% |
For 3 years | 7.75% |
For 5 years | 7.75% |
Interest rates are updated as of 24 September 2024
LIC Housing Finance offers FD under the brand name of ‘Sanchay Deposit’ at the interest rates of 7.25-7.75% p.a. to the general public and 7.50-8.00% p.a. to senior citizens on tenures ranging from 1 year to 5 years. This housing finance has been accredited with a credit rating of AAA/Stable by CRISIL. As per CRISIL, AAA indicates very strong chances of timely interest and principal repayment by the housing finance company.
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LIC Housing Finance FD Interest Rates (p.a.) Highlights 2024 |
|
Highest slab rate | 7.75% (for 3 years and 5 years) |
For 1 year | 7.25% |
For 2 years | 7.60% |
For 3 years | 7.75% |
For 5 years | 7.75% |
Interest rates are updated as of 24 September 2024
Card limit is 90% of FD Amount
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Credit Rating
Credit Rating Agency | Credit Rating |
CRISIL | AAA/Stable |
Tenor | Cumulative Interest Rates (% p.a.) | Non-Cumulative Interest Rates (% p.a.) | |
Monthly | Yearly | ||
1 year | 7.25 | 7.00 | 7.25 |
18 months | 7.35 | 7.10 | 7.35 |
2 years | 7.60 | 7.35 | 7.60 |
3 years | 7.75 | 7.50 | 7.75 |
5 years | 7.75 | 7.50 | 7.75 |
FDs of up to ₹5 lakhs insured by RBI
No hassle of opening a saving account
No documentation
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Using the FD calculator for LIC Housing Finance Fixed Deposit, interested applicants may check for the estimated maturity amount as per the prevailing interest rates. This tool is available at Paisabazaar.com and can be used free of charge any number of times. One may have a comparison among FD interest rates by various banks for different tenures and make a well-informed decision.
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Q. What is the highest LIC Housing Finance FD interest rate available to customers?
A. Depositors can earn the highest FD interest rates of up to 7.75% p.a. by opening FD in LIC Housing Finance. The FD interest rate is available for 3 years and 5 years of tenure.
Q. Is there a limit to the amount that can be invested in LIC FD?
Ans. No. There is a minimum amount of Rs 2 lakh for yearly option and Rs 20,000 for monthly option after which one may invest in multiples of Rs 10,000 and Rs 1,000, respectively.
Q. Should one go for FD if he/she is risk-averse?
Ans. FDs are safe investment instruments and thus a good option for people who do not wish to indulge in ever-fluctuating market risks.
Q. When can one apply for a loan against FD?
Ans. LIC HFL has a condition of 3 months (after the date of purchase), post which loans can be applied for.
Q. Can one may a joint investment?
Ans. Joint FD account can be opened with up to 3 members.
Q. Does the company provide a cumulative option for investment?
Ans. Yes. Customers can choose either from the cumulative option or the non-cumulative one.
Q. Is there a tax-saver option too?
Ans. If the investment is made for 5 years, it becomes a tax-saver FD.
Q. What benefit can a senior citizen avail by investing in LIC Housing Finance FD?
Ans. Senior citizens are provided with preferential interest rates on FD, i.e. extra 0.25% on what is offered to the regular customers.
Q. For which tenure can one earn the highest FD interest by LIC Housing Finance?
Ans. Currently, LIC Housing Finance is offering 7.75% for FD terms maturing in 3 years and 5 years. An additional 0.25% is offered to the senior citizens.
Q. Is LIC Housing Finance a government company?
Ans. LIC Housing Finance is a subsidiary of LIC with LIC being the major stakeholder. The company is wholly governed and controlled by LIC of India.