Minimum Amount & Rate of Interest offered on different Maturity terms
Investment in the Sanchay fixed deposit scheme can be made for a minimum amount of Rs. 10,000 and for a maximum of five years term. The scheme swanks the highest offered interest rate @ 9.5% on a fixed deposit scheme with five year maturity term and 9.75% for senior citizens.
The table below illustrates the interest rate offered on Sanchay Fixed deposit scheme with different maturity term for general public and senior citizens.
|Term||Rate of interest for general public||For Senior citizens with investment amount Rs. 50K||For Senior citizens with investment amount over Rs. 50K|
Comparison of the Rate of return from Sanchay Fixed deposit scheme with returns on bank FDs
|Maturity Term||Interest rate offered by PSU banks on FDs||Interest rate offered by private sector banks on FD schemes||Interest rate offered by Sanchay FD scheme|
|1year or less than 2 years||8.75% - 9.05%||8.00% - 9.25%||8.75%|
|2 year less than 3 years||8.50% - 9.10%||8.75% - 9.50%||9.00%|
|3 years less than 5 years||8.50% - 9.00%||8.50% - 9.25%||9.25%|
|5 years or more||8.00% - 9.25%||8.00%-9.00%||9.50%|
The comparison hence suggest that if an investor is going for long term investment of 3 years or more then he can definitely consider investment in Sanchay public deposit scheme for higher rate of return.
Safety in Sanchay fixed deposit scheme of LICHF is backed by FAAA Stable rating of CRISIL apart from the high credibility of the LIC institution that is backing the investment scheme.