Aug 08, 2013, 11.11 PM 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.

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%

LIC Housing Fin stock price

On April 23, 2014, LIC Housing Finance closed at Rs 279.65, up Rs 1.35, or 0.49 percent. The 52-week high of the share was Rs 284.80 and the 52-week low was Rs 152.00.


The company's trailing 12-month (TTM) EPS was at Rs 26.10 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 10.71. The latest book value of the company is Rs 154.53 per share. At current value, the price-to-book value of the company is 1.81.

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