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