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LIC Housing Finance Revises Interest Rates On FDs, Now Get Up To 7.75% Interest
LIC Housing Finance Ltd. (LIC HFL), one of the largest housing finance companies (HFC) in India, revises its interest rates on both cumulative & non-cumulative domestic fixed deposits (FDs) schemes. The revised interest rates are effective from 12th April 2023, according to the official website of LIC HFL.
LIC HFL FDs are rated AAA/STABLE by CRISIL, which makes it a safe and secure deposit scheme. You may take a loan against a fixed deposit of up to 75% of the deposit amount with the LIC HFL.
LIC HFL is now offering interest rates from 7.25% to 7.75% on domestic deposits under the Cumulative option for deposit tenors of 1 Year, 18 Months, 2 years, 3 years, and 5 years.
While, under the non-Cumulative option, LIC HFL offers interest rates between 7% to 7.50% (monthly option) and 7.25% to 7.75% (yearly option) for deposits up to Rs 20 Crore. LIC HFL offers interest rates between 7% to 7.50% (Monthly option) and 7.25% to 7.75% (yearly option) for deposits above Rs 20 crore.
Cumulative Deposit Scheme
Interest Rates On Deposits up to Rs 20 Crore
| Tenure | Interest Rates (p.a.) |
|---|---|
| 1 Year | 7.25% |
| 18 Months | 7.35% |
| 2 Years | 7.60% |
| 3 Years | 7.75% |
| 5 years | 7.75% |
Interest Rates On Deposits above Rs 20 Crore
| Tenure | Interest Rates (p.a.) |
|---|---|
| 1 Year | 7.25% |
| 18 Months | 7.25% |
| 2 Years | 7.50% |
| 3 Years | 7.75% |
| 5 years | 7.75% |
Non-Cumulative Deposit Scheme
Interest Rates on Deposits up to Rs 20 Crore
| Tenure | Monthly Option Interest Rates (p.a) | Yearly Option Interest Rates (p.a) |
|---|---|---|
| 1 Year | 7.00% | 7.25% |
| 18 Months | 7.10% | 7.35% |
| 2 Years | 7.35% | 7.60% |
| 3 Years | 7.50% | 7.75% |
| 5 years | 7.50% | 7.75% |
Interest Rates on Deposits above Rs 20 Crore
| Tenure | Monthly Option Interest Rates (p.a) | Yearly Option Interest Rates (p.a) |
|---|---|---|
| 1 Year | 7.00% | 7.25% |
| 18 Months | 7.00% | 7.25% |
| 2 Years | 7.25% | 7.50% |
| 3 Years | 7.50% | 7.75% |
| 5 years | 7.50% | 7.75% |
Source - lichousing.com
Following the deduction of any applicable taxes, interest is compounded annually and paid in addition to the principal amount due at maturity. Senior citizens will get an additional 0.25% interest rate for deposits of Rs. 20,000 but no more than Rs. 2 crore across the tenures from the company.
