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Usually joint applications are from husband-wife,father-son or mother-son. V) The Company has Public Deposit Desk at the Corporate Office to look into any investor grievance regarding deficiencies, if any, in the services. Iv) Brokerage will be paid only to agents appointed by the company. No brokerage will be paid to the Agent for deposits held in his/her/their name.
No tax to be deducted at source on interest income upto Rs.5000 per financial year in LIC Housing Finance Fixed Deposits. With LIC Housing Finance Fixed Deposits, you can choose tenor between 12 and 60 months, to suit your financial needs. This can impact your liquidity needs, and help you ladder your investments, so that you can enjoy a higher cash inflow.
Sanchay Deposit
Interest on deposit (Non-Cumulative) will be paid on 31st March. In case of interest payment for part period, the same will be made on pro-rate basis. However, if a deposit is made within a period of 30 days prior to the interest payment date, the interest for the part period will be paid on the next interest payment date. Payment of interest will be made through interest warrant or through National Automated Clearing House in respect of the places where such facility has been offered by the company.
We pride in having served over 21 lakhs prudent home owners. LIC permits premature withdrawal of FDs with a penalty of a 2% rate of interest. The yearly option requires a minimum commitment of Rs.10,000.
LIC Housing Finance FD Returns Based on Investment Amount
The minimum deposit required to invest in a LIC Housing Finance Fixed Deposits starts from Rs. 20,000 to Rs. 2,00,000, which makes it easier to invest. LIC HFL is amongst the pioneers in India ensuring access to housing finance for home ownership. With a strong business foundation, an extensive distribution network and proven industry expertise, LIC HFL is a respected and trusted financial services company.
Also, note that the interest income from the LIC Fixed Deposit is taxable according to the slab rates of income tax. Also, the interest income is subject to a TDS of 10% if the income from LIC FD exceeds Rs. 40,000 p.a. The monthly option requires a minimum deposit of Rs.2 lakh.
LIC Fixed Deposit Interest Rates
RBI rules and guidelines are critical in establishing the economy's interest rates. Withdrawals are permitted three months from the start of the FD. TDS will be deducted at a higher rate of 20% rather than the standard 10%.
There are separate schemes for purchasing consumer durables like TV, Music System, Computer, Washing Machine, AC etc. No CIBIL Score required for women borrower for loan up to Rs.30 Lakhs. Loan Amount Above INR 1 Crore to Up to INR 15 Crore - INR 20,000 + AT Documentation 1) Application form with photograph.
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At present, the interest rates offered ranges from 7.30% to 7.45% on all individual deposits and 7.40% to 7.55% on all senior citizen deposits. There are flexible tenure options that a customer can choose from. The tenure ranges from a minimum of 1 year to a maximum of 5 years. Also, interest on LIC RDs are subject to change periodically.
Moreover, senior citizens get a preferential rate of interest of 0.5% on their FDs. Also, the interest gets compounded quarterly, and the payout frequency depends on the investor’s choice – monthly, quarterly or annually. The highest term deposit rate for LIC Housing Finance is 5.60% for a regular investor for the tenure of 5 years and above.
The component authority reserves the right to add/delete/modify/withdraw any or all terms & conditions & features of this scheme without giving any prior notice or intimation to anyone in this regard. ✓ You Can Avail upto 85% of total cost of the property including Stamp duty & Registration changes for loan upto 20 lacs. It provides Housing Loan for long term Finance with low Interest Rates. You can take a Home Loan for various purposes like Purchasing a Plot, House Extension and even Repair & Renovation. Over representatives have been helping Indian own homes, over last 25 years. LIC Housing Finance Ltd. is one of the largest Housing Finance Company in India.
One of India's largest housing finance firms, LIC Housing Finance Limited , offers a variety of Fixed Deposit plans to meet the demands of every type of investor. The Sanchay plan includes the LIC Housing Finance FD. LIC, among other advantages, provides competitive interest rates and a high rate of return on investment. The LIC Housing Finance FD tenure ranges between 1 year to 5 years. Once invested, one cannot change the LIC Housing Finance FD investment tenure. However, one can opt for premature withdrawal, though this attracts some penalty.
Senior interest rates are higher than average, ranging up to 6.00 percent. Attractive card rates for deposit amount upto Rs 20 Crore and above Rs.20 Crore for all tenure. (In case of joints applicants, CIBIL score of applicant having highest score will be considered.) Pre-payment charges are waived off if paid through own sources / through salary a/c cheque. Xv) The financial position of the Company as disclosed and the representations made in the Application Form are true and correct and that the Company and its Board of Directors are responsible for the correctness and veracity thereof. Viii) Change of address of the first depositor should be intimated to Link Intime India Pvt. Deposits will be subject to the Rules/Guidelines issued from time to time by NHB or any other statutory authority and/or Central/State Government in connection with acceptance of Public Deposits by Housing Finance Companies.
Furthermore, the deposit schemes of LIC have an AAA or AA by the rating agencies. Agents are not authorized to accept cash or issue receipt on behalf of LIC Housing Finance Limited. Brokerage will be paid to the agents at the rate decided by the management from time to time. If the depositor does not choose any option, the maturity amount will automatically remitted to depositor’s designated bank account mentioned herein on maturity of the deposit.
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