Table of Content
Usually joint applications are from husband-wife,father-son or mother-son. V) The Company has Public Deposit Desk at the Corporate Office to look into any investor grievance regarding deficiencies, if any, in the services. Iv) Brokerage will be paid only to agents appointed by the company. No brokerage will be paid to the Agent for deposits held in his/her/their name.
The FD rates for senior citizens range between 5.65% to 5.75%. Premature Withdrawal will not be allowed before 3 months. After 3 months the rates for premature withdrawal as mentioned in the form will be applicable. In case of assignment of this deposit, with prior permission of the company, the principal repayment will be made to the assignee if lien is involved. 1] Stick Rs.1 Revenue stamp on the back side of fixed deposit receipt and across Signed by all depositors.
Sanchay Deposit
Interest on deposit (Non-Cumulative) will be paid on 31st March. In case of interest payment for part period, the same will be made on pro-rate basis. However, if a deposit is made within a period of 30 days prior to the interest payment date, the interest for the part period will be paid on the next interest payment date. Payment of interest will be made through interest warrant or through National Automated Clearing House in respect of the places where such facility has been offered by the company.
We pride in having served over 21 lakhs prudent home owners. LIC permits premature withdrawal of FDs with a penalty of a 2% rate of interest. The yearly option requires a minimum commitment of Rs.10,000.
LIC Housing Finance FD Returns Based on Investment Amount
Compounded annually in case of cumulative deposit, interest is compounded before deduction of tax. 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. Xi) All the deposit holders placing deposits with the company are compulsorily required to mention PAN/GIR No.
Also, note that the interest income from the LIC Fixed Deposit is taxable according to the slab rates of income tax. Also, the interest income is subject to a TDS of 10% if the income from LIC FD exceeds Rs. 40,000 p.a. The monthly option requires a minimum deposit of Rs.2 lakh.
LIC Fixed Deposit Interest Rates
The Company is eligible to accept deposits from trust and fulfills the requirements as mentioned in clause of section 11 of the income Tax Act, 1961. C) The brokerage payable to authorised agents is for the period completed and excess brokerage paid as a result of pre-payment of the deposit will be recovered. B) In the event of the deposit holder already having/received interest at a higher rate, the difference in the total interest paid and revised interest payable would be adjusted against the interest/principal amount. # If a Deposit is made within a period of 20 days prior to any interest payment date, the interest for the part period will be paid on the next interest payment date.
There are separate schemes for purchasing consumer durables like TV, Music System, Computer, Washing Machine, AC etc. No CIBIL Score required for women borrower for loan up to Rs.30 Lakhs. Loan Amount Above INR 1 Crore to Up to INR 15 Crore - INR 20,000 + AT Documentation 1) Application form with photograph.
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# Monthly Interest payment dates will be the First day of each month. LIC Housing Finance Fixed Deposits are rated CRISIL FAAA / Stable . This rating indicates that the degree of safety regarding timely payment of interest and principal is very strong, so your investments are never at risk. With the strength and support of so many investors, LIC Housing Finance Fixed Deposit investors are also increasing day by day. So, if you are looking for options wherein you can invest your money, have a look at the features and benefits of the LIC Housing Finance Fixed Deposit or Sanchay Public Deposit Scheme.
For yearly and cumulative option interest will be compounded annuallyNote - Interest rates are subject to change and rate applicable will be the rate prevalent on the date of credit of cheque/Transfer in company's Bank Account. For example, if you invest Rs.1 lakh for a period of 2 years in an LIC HFL FD scheme at the rate of 7.40% per annum, the total maturity value will be Rs.1,07,400. The total interest earned out of the term deposit scheme will be Rs.7,400. The interest rates on all individual deposits currently vary from 5.60 per cent to 6.60 per cent.
The component authority reserves the right to add/delete/modify/withdraw any or all terms & conditions & features of this scheme without giving any prior notice or intimation to anyone in this regard. ✓ You Can Avail upto 85% of total cost of the property including Stamp duty & Registration changes for loan upto 20 lacs. It provides Housing Loan for long term Finance with low Interest Rates. You can take a Home Loan for various purposes like Purchasing a Plot, House Extension and even Repair & Renovation. Over representatives have been helping Indian own homes, over last 25 years. LIC Housing Finance Ltd. is one of the largest Housing Finance Company in India.
LIC Housing Finance company is a well-known name in the finance sector. The housing finance company offers affordable home loans with an attractive rate of interest that make it easier for the customers to save more on repayment. Other than this, LIC started fixed deposit scheme or Sanchay Public Deposit Scheme in the year 2007 to fulfill the needs of its customers and give them the option to earn from their own savings. The fixed deposit scheme of LIC is named as LIC Housing Finance Sanchay Fixed Deposit and is one of the best schemes you can find as you get a stability and reliability for your money.
Senior citizens earn an additional 0.25 percent on savings ranging from Rs.20,000 to less than Rs.20 crore. Interest rate of 4.50% per annum on Public Deposits above Rs. 20 Crores. Interest rate of 4.40% per annum on Public Deposits above Rs. 20 Crores. Interest is paid on the 1st day of the month and on 31st March for the month of March under Monthly Option. 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.
5] Stick Passport size photograph of sole applicant on application form. Nvestors need to submit the following documents to open a Fixed Deposit with LIC Housing Finance. Existing FD investors of LIC Housing Finance Fixed Deposits need not resubmit any documents, as this is a one-time process. Your Cheque / Mobile No will be your application number.
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