Moneycontrol
Aug 09, 2013 12:05 AM IST | Source: Moneycontrol.com

LIC Housing launches new deposit scheme

LIC Housing Finance on Thursday launched a public deposit scheme christened as “Sanchay” on its new online IT platform. Retail depositors as well as non-resident Indians, Hindu Undivided Families and companies can park their funds in the scheme.

LIC Housing launches new deposit scheme

Moneycontrol Bureau


LIC Housing Finance on Thursday launched a public deposit scheme christened as "Sanchay" on its new online IT platform. Retail depositors as well as non-resident Indians, Hindu Undivided Families and companies can park their funds in the scheme.


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The term period for deposits ranges from one to five years with minimum amount of Rs.10,000 and thereafter in multiples of Rs. 1,000. In the cumulative scheme, the interest accumulated with half-yearly rest will be paid on maturity and in the non-cumulative scheme the interest will be paid on a half yearly basis i.e. March 31 and September 31.


The rate of interest ranges from 8.75 percent to 9.50 percent for general public for period ranging from 1 year to 5 years. For senior citizens, additional 0.10% is offered for deposits upto Rs.50,000 and 0.25 percent for deposits of Rs.51,000 and above.


The scheme was launched at the hands of Sushobhan Sarker, MD, LIC of India in the presence of V K Sharma, MD & CEO of LIC HFL.   



Term

Interest rate per annum on Deposits from General Public

Interest rate per annum on Deposits From Senior Citizens up to Rs.50,000/-

Interest rate per annum on Deposits From Senior Citizens Rs.51,000/- and above

1 YEAR

8.75%

8.85%

9.00%

18 MONTHS

8.75%

8.85%

9.00%

2 YEAR

9.00%

9.10%

9.25%

3 YEAR

9.25%

9.35%

9.50%

5 YEAR

9.50%

9.60%

9.75%

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