LIC Housing Finance Hikes FD Rates w.e.f. May 24, 2022
The NBFC firm has hiked FD rates on its deposits w.e.f May 24, 2022. Some of the features of the deposits as put across by the company are
FAAA/STABLE rating by CRISIL
Attractive Card Rates
Monthly and Yearly Interest Payment Option under Non- Cumulative Scheme
Interest Compounded Annually under Cumulative Scheme
Auto Renewal/ Auto Repayment Facility available
Electronic Payment Facility for Interest payment and Principal Payment
Additional benefit of 0.25% p.a. in interest rate to senior citizens (for deposits upto Rs. 20 Crore on all tenures)
Quick sanction of Loan against Deposit up to 75% of Deposit Amount
Type of deposit and their revised interest rate
Cumulative Public Deposit
This is typically to meet your long term fund requirements. Tenure available for 1 Year, 18 Months, 2 Year, 3 Year and 5 Year under Cumulative Public Deposit Scheme. Attractive card rate for deposit amount upto Rs 20 Crore and above Rs. 20 Crore for all tenure. Interest will be compounded annually and paid on maturity along with Principal Amount after deducting the tax wherever applicable.
Tenure | Rate of interest for deposits up to Rs. 20 cr. | Rate of interest for deposits over to Rs. 20 cr. |
---|---|---|
1 year | 5.60% | 4.95% |
18 months | 5.90% | 5.25% |
2 years | 6.25% | 5.60% |
3 years | 6.40% | 5.75% |
5 years | 6.60% | 5.95% |
Non-cumulative public deposit:
These deposits are to meet regular fund requirements.
Annual Option for Non-Cumulative Deposit Scheme:
Minimum Amount: Rs. 20,000/- and thereafter in multiples of Rs. 1,000/-
Monthly Option for Non- Cumulative Deposit Scheme:
Minimum amount: Rs. 2,00,000/- and thereafter in multiples of Rs. 10,000/
Tenure | Rate of interest for deposits up to Rs. 20 cr. For monthly pay-out | Rate of interest for deposits over to Rs. 20 cr. (monthly pay out) | Rate of interest for deposits up to Rs. 20 cr. For annual pay-out | Rate of interest for deposits over to Rs. 20 cr. (annual pay out |
---|---|---|---|---|
1 year | 5.45 | 4.85 | 5.6 | 4.95 |
18 months | 5.75 | 5.15 | 5.9 | 5.25 |
2 years | 6.1 | 5.5 | 6.25 | 5.6 |
3 years | 6.25 | 5.65 | 6.4 | 5.75 |
5 years | 6.45 | 5.85 | 6.6 | 5.95 |