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.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead Masteryourmoney Earnings
moneycontrol.com

Home » News » Business

Aug 09, 2013, 12.05 AM | 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.

Like this story, share it with millions of investors on M3

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.

Post Your Comments

Share Cancel

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.

Also read: RBI takes further step to stem rupee's slide against USD

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%

Ads by Google

Buy, Hold, Sell ? Hear it first on M3
LIC Housing launches new deposit scheme

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login