LIC Housing Finance company is a well-known name in the finance sector. The housing finance company offers affordable home loans with an attractive rate of interest that make it easier for the customers to save more on repayment. Other than this, LIC started fixed deposit scheme or Sanchay Public Deposit Scheme in the year 2007 to fulfill the needs of its customers and give them the option to earn from their own savings. The fixed deposit scheme of LIC is named as LIC Housing Finance Sanchay Fixed Deposit and is one of the best schemes you can find as you get a stability and reliability for your money. Since investments are a part of future planning, this fixed deposit scheme of LIC can surely help your build a good path. Under this scheme, you need to invest money for a minimum of 1 year and to the maximum of 5 years to enjoy a higher return on your investment.
With the strength and support of so many investors, LIC Housing Finance Fixed Deposit investors are also increasing day by day. So, if you are looking for options wherein you can invest your money, have a look at the features and benefits of the LIC Housing Finance Fixed Deposit or Sanchay Public Deposit Scheme.
Benefits and features of Sanchay Public Deposit Scheme
- It has been rated FAAA by CRISIL
- Minimum amount to make an investment is ₹10,000 and thereafter additional deposits accepted in multiples of ₹1000
- To deposit your money with the deposit scheme you need to be Indian resident individual
- It is also available for HUF, Limited and Private Limited Companies, NRI, Co-operative Societies, and association of persons
- Special rate of interest for senior citizens from addition 0.10% to 0.25% depending upon the amount
- You can make investment under cumulative or non-cumulative scheme
- Flexible duration to choose from minim 1 year to maximum 5 years
- You can make individual or joint investment
- Interest is paid on compounded and annual basis
Now after looking at the above benefits, you must look at the documentation required at LIC to start an FD account. So, look at the list of documents that you must have to open an FD account:
Documents required for fixed deposit
- Duly filled application form along with recent photographs
- ID proof documents such as latest photographs, valid passport, copy of PAN card, driving license, voter ID, job card by NREGA, Aadhar card
- Address proof as valid passport, copy of PAN card, driving license, voter ID, Aadhar card, latest utility bill such as electricity bill, telephone bill, postpaid mobile phone bill, water bill, etc., property/Municipal tax receipt, bank passbook/bank statement, pension payment order, accommodation letter from employer, documents by foreign authority
LIC Fixed Deposit Interest Rates
Have a look at the FD interest rates for the maximum deposit of ₹5 crores.
|Revised ROI per annum on Deposits from General Public
|Revised ROI per annum on Deposits from Senior Citizens up to INR 50,000
|Revised ROI per annum on Deposits from Senior Citizens above INR 51,000