• Fixed Deposit
  • LIC Housing Finance
  • LIC Fixed Deposit
LIC Fixed Deposit

LIC Fixed Deposit

HFCAAA (Stable) 

7.75%

Interest for 3 years

LIC Housing Finance FD Interest Rates 2024

TenureNormal Citizen FD RateSenior Citizen FD Rate
1 year - 1 year7.25%7.5%
1 year 1 day - 1 year 5 months 30 days7.35%7.6%
1 year 6 months - 2 years7.6%7.85%
2 years 1 day - 4 years 11 months 29 days7.75%8%

Note: All interest rates shown above are as on 7th May 2024

About LIC Housing Finance FD

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.

LIC Housing Finance FD

7.25% - 7.75%

FD Rate

7.5% - 8%

FD Rate for Seniors

₹ 20000

Minimum Deposit

₹ 20 Crores

Maximum Deposit

-

Lock-in

-

FD Tenure

-

Loan against FD

AAA (Stable)

CRISIL Rating

LIC Housing Finance FD Returns Based on Investment Amount

Investment AmountFor 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

Compare LIC Housing Finance Fixed Deposit Returns with Top Banks

Use FD calculator to change values and compare your returns from top banks.

vs
Uttarbanga Kshetriya Gramin Bank FD
down-arrow
LIC Housing Finance FD
LIC Housing Finance FD
Maturity Amount 1,07,496 1,05,326
Total Investment Amount₹ 1,00,000₹ 1,00,000
Total Interest Gained7,496 5,326

Compare LIC Housing Finance Fixed Deposit Rates with Top Banks

Bank NameFD Interest Rates
Uttarbanga Kshetriya Gramin Bank FD
5.2% - 5.2%
Kotak Mahindra Bank FD
7% - 7.6%
Paschim Banga Gramin Bank FD
5.3% - 5.8%
Indian Overseas Bank FD
6.5% - 7%
HDFC Ltd FD
7.35% - 7.6%
Jharkhand Rajya Gramin Bank FD
6.5% - 6.75%
Andhra Pragathi Grameena Bank FD
7% - 7.6%
Rajasthan Marudhara Gramin Bank FD
7.1% - 7.6%
Arunachal Pradesh Rural Bank FD
6.25% - 6.75%
State Bank of India FD
6.75% - 7.25%

Calculate LIC Housing Finance FD Returns

1,00,000

Total Investment

7,496

Wealth Gained

1,07,496

Maturity Amount

Explore Debt Funds, instead!

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 LIC fixed deposit and their interest rates in detail.

Features of LIC Housing Finance Fixed Deposit 

LIC term deposit schemes offer significant returns. Following are the key features of LIC term fixed deposits:

Eligibility and Documents Required

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.

  • Individuals, and for minors, a joint account along with a guardian
  • Sole proprietors
  • Partnership firms
  • Joint-stock companies
  • Hindu undivided families (HUF)
  • Clubs, associations and trusts
  • NRIs

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

  • FD application form
  • 2 Photographs of the depositor
  • PAN Card
  • ID proof (Aadhar Card, PAN Card, Driving License, or Passport)
  • Address proof (Aadhar Card, Electricity Bill, Telephone bill or any other utility bill)
  • Age proof (Birth certificate, Discharge certificate PAN Card, or matriculation certificate)

Additional Payments and Safety

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.

Tax and TDS

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.

Premature Withdrawal

LIC allows premature withdrawal of fixed deposits but with a penalty of 2% on the contracted rate of interest.

Nomination Facility and Auto Renewal

Depositors can nominate beneficiaries for their LIC FDs. Also, LIC offers an auto-renewal facility for deposits.

Pan Card

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.

LIC HFL Fixed Deposit Schemes: In Detail

  • Sanchay Deposit
  • Cumulative Deposit Scheme
  • Non-Cumulative Deposit Scheme

Sanchay Deposit

  • Tenure: 1 year to 5 years
  • Minimum Deposit Amount: INR 10,000 for yearly option and INR 2,00,000 for monthly option.
  • Maximum Deposit Amount: No Limit
  • Interest Payout: Depositors can choose a suitable interest payment frequency, monthly or quarterly or annually.
  • Joint Account: Available, a maximum of three members, can hold the account jointly.
  • Loan Facility: LIC Housing Finance FD depositors are eligible for availing loan against their FD.
  • Auto-Renewal Facility: Available
  • Nomination Facility: Available

Cumulative Deposit Scheme

  • Investment tenure- 1 Year, 18 Months, 2 Year, 3 Year and 5 Year
  • Interest will be compounded annually
  • Interest will be paid on maturity along with Principal Amount
  • TDS is deducted at the rate applicable under section 194A
  • Minimum investment amount of Rs 20,000 in multiples of Rs 1,000.

Non-Cumulative Deposit Scheme

  • Monthly Interest payment and Annual Interest payment
  • Investment period- 1 Year, 18 Months, 2 Year, 3 Year and 5 Year
  • Attractive card rates for deposit amount upto Rs 20 Crore and above Rs.20 Crore for all tenure.
  • Interest is payable annually on 31st March under Annual Option
  • Interest is paid on the 1st day of the month and on 31st March for the month of March under Monthly Option.
  • Annual FD- Minimum Amount: Rs. 20,000 and thereafter in multiples of Rs. 1,000
  • Monthly FD- Minimum Amount: Rs. 2,00,000 and thereafter in multiples of Rs. 10,000

Explore Fixed Deposits By Banks

Frequently Asked Questions

What is the highest LIC Housing Finance FD rate today?

The highest LIC Housing Finance FD rates for general citizens is 7.75% p.a. and 8% p.a. for senior citizens.

What is the highest interest rate on LIC Housing Finance 1 year FD scheme?

The highest interest rate on LIC Housing Finance 1 year FD scheme is 7.25% p.a.

What is LIC Housing Finance FD scheme interest rate for 5 years?

7.75% p.a is the interest rate for 5 years on LIC Housing Finance FD scheme.

How many years FD will double in LIC Housing Finance?

To know in how many years LIC Housing Finance Bank FD will double, we can follow the 72 rule. We have to divide 72 by the interest rate, and the result will be the number of years LIC Housing Finance Bank FD will double. The current highest LIC Housing Finance FD interest rate is 7.75% so investors will double the investment in 9.29 years. Similarly, senior citizen depositors will double their FD investment in 9.00 years, where the highest FD rate for senior citizens is 8%.

What is LIC Housing Finance FD minimum deposit amount?

The minimum investment in LIC Housing Finance FD is INR 20,000. However, there is no limit on the maximum amount of investment in LIC Housing Finance FD.

What is senior citizen fixed deposit interest rates in LIC Housing Finance?

The senior citizen fixed deposit interest rates in LIC Housing Finance range between 7.5% to 8% p.a. for an available minimum and maximum investment duration.

What are the available FD tenures in LIC Housing Finance?

LIC Housing Finance FD tenure ranges from 1 year to 4 years 11 months 29 days

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?

You can check LIC Housing Finance FD balance either online or offline mode. For online mode, log in to the LIC Housing Finance internet banking portal. Alternatively, you can visit the nearest LIC Housing Finance bank to update your passbook for FD balance enquiry.

How many FDs can be opened in LIC Housing Finance?

There is no restriction on the number of FDs you can open with LIC Housing Finance.