Interest for 3 years
|Tenure||Normal Citizen FD Rate||Senior Citizen FD Rate|
|11 months 30 days - 11 months 30 days||7.25%||7.5%|
|1 year - 1 year 5 months 29 days||7.35%||7.6%|
|1 year 5 months 30 days - 1 year 11 months 30 days||7.6%||7.85%|
|2 years - 4 years 11 months 29 days||7.75%||8%|
Note: All interest rates shown above are as on 4th May 2023
LIC Housing was founded in 1989 by the Life Insurance Corporation of India and other financial institutions. It is India’s one of largest housing finance companies. LIC has its headquarters in Mumbai. As of March 2022, LIC Housing has 9 regional offices, 24 back offices, 282 marketing units in India, and 1 overseas representative office in Dubai. The total deposits as of March 2022 stood at INR 18,073.50 crores. LIC’s Fixed Deposits have an AAA (Stable) Credit Rating.
7.25% - 7.75%
7.5% - 8%
FD Rate for Seniors
₹ 20 Crores
Loan against FD
|Investment Amount||For 3 years with interest of 7.75%||For 5 years with interest of 7.75%|
|₹ 50,000||₹ 63,040||₹ 73,573|
|₹ 1 lakh||₹ 1,26,081||₹ 1,47,146|
|₹ 2 lakh||₹ 2,52,162||₹ 2,94,292|
|₹ 5 lakh||₹ 6,30,404||₹ 7,35,729|
|₹ 10 lakh||₹ 12,60,808||₹ 14,71,458|
Use FD calculator to change values and compare your returns from top banks.
|Maturity Amount||₹ 1,07,496||₹ 1,07,763|
|Total Investment Amount||₹ 1,00,000||₹ 1,00,000|
|Total Interest Gained||₹7,496||₹ 7,763|
|Bank Name||FD Interest Rates|
|DBS Bank FD||7.5% - 8%|
|Jammu And Kashmir Grameen Bank FD||6.5% - 7%|
|Central Bank of India FD||6.25% - 6.75%|
|IDBI Bank FD||6.5% - 7%|
|Madhyanchal Gramin Bank FD||5.3% - 5.8%|
|Mizoram Rural Bank FD||6.5% - 6.5%|
|Axis Bank FD||7% - 7.75%|
|Bangiya Gramin Vikash Bank FD||6.25% - 6.75%|
|Bandhan Bank FD||7.25% - 7.75%|
|Ellaquai Dehati Bank FD||5.3% - 5.55%|
The flexible & tax efficient alternative to FDs.
LIC Housing Finance is among the most reliable term deposit providers. LIC offers several benefits to its depositors. For example, it offers high-interest rates, has flexible tenures and also offers loans against the deposits. In this article, we have covered about LIC FDs and its interest rates in detail.
LIC term deposit schemes offer significant returns. Following are the key features of LIC term fixed deposits:
To open an FD account in LIC Housing Finance, one has to be eligible. Following are the individuals that are eligible to invest in LIC FDs.
To open a term deposit account in LIC Housing Finance, one needs the following documents.
The documents that one requires to invest in LIC FDs are
LIC Housing Finance does not allow depositing any additional amount in an existing fixed deposit. However, one can always open a new FD to deposit the additional amount. Under the Deposit Insurance Scheme of RBI, DICGC insures all LIC deposits up to INR 5,00,000. Furthermore, the LIC deposit schemes have an AAA or AA by the rating agencies. This indicates that the deposit has the highest safety.
Investment in LIC Housing Finance FD qualifies for tax saving under Section 80C of the Income Tax Act, 1961 if the tenure is for five years. Depositors can claim the exemption while filing income tax returns.
The interest that one earns on their LIC FD investments is taxable as per the depositor’s income tax slab rates. Furthermore, the LIC deducts a TDS of 10% (20% if PAN card isn’t submitted) in case the interest income exceeds INR 40,0000 (INR 50,000 for senior citizens).
To determine if the interest income from a LIC Housing Finance term deposit is above or below the TDS threshold limit, one can use the FD calculators available online. Also, depositors can estimate their tax liability using the Income Tax Calculator. Scripbox’s online Income Tax Calculator helps in estimating tax liability and is free to use.
LIC allows premature withdrawal of fixed deposits but with a penalty of 2% on the contracted rate of interest.
Depositors can nominate beneficiaries for their LIC FDs. Also, LIC offers an auto-renewal facility for deposits.
Though a PAN card isn’t mandatory while opening a LIC FD, there are few implications of not disclosing PAN details. The applicable TDS rate will be 20% instead of the usual 10%, as per the regulations of section 206AA. The LIC will not issue any TDS certificate. And all exemption certificates, including Form 15H and Form 15G, will be invalid.
What is the highest LIC Housing Finance FD rate today?
What is the highest interest rate on LIC Housing Finance 1 year FD scheme?
What is LIC Housing Finance FD scheme interest rate for 5 years?
How many years FD will double in LIC Housing Finance?
What is LIC Housing Finance FD minimum deposit amount?
What is senior citizen fixed deposit interest rates in LIC Housing Finance?
What are the available FD tenures in LIC Housing Finance?
What is LIC Housing Finance FD ROI for 10 lakh deposit for 1 year?
The interest from the LIC Housing Finance FD calculator for 10 lakh deposit for 1 year will be INR 74,958. The maturity value will be INR 10,74,958. You can use Scripbox’s FD Calculator to determine the maturity value of your investment.
How to check the fixed deposit balance in LIC Housing Finance?
How many FDs can be opened in LIC Housing Finance?