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For new deposits processed after 15th of the month, interest will be paid on 1st day of the second interest cycle on pro rata basis. You need to carry properly filled application forms, submission centers do not provide application forms, only accept the forms and provide acknowledgement. Submit / deposit your application form in Listed Branches of LIC Housing Finance or in any allowed Bank Branches. # Interest rates/credit ratings are subject to change and interest rates / credit rating applicable will be the prevailing interest rates/credit rating as on the date of deposit.
Additional investments can be done in multiples of INR 10,000 for monthly deposits and INR 1,000 for yearly deposits. Inflation is one of the primary variables influencing term deposit rates, among others. To a significant part, this affects the interest rates that banks and other financial institutions provide.
Features and Benefits of LIC FD
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.
LIC is an insurance policy and every investor who has dependents needs to have an insurance policy. Whereas, FD is an investment vehicle that helps in earning returns. AN investor would need both an insurance policy as well an investment avenue to secure their future. An FD investment’s growth rate depends on the rate of interest of the investment.
LIC Housing Finance FD Returns Based on Investment Amount
Senior interest rates are higher than average, ranging up to 6.00 percent. Attractive card rates for deposit amount upto Rs 20 Crore and above Rs.20 Crore for all tenure. (In case of joints applicants, CIBIL score of applicant having highest score will be considered.) Pre-payment charges are waived off if paid through own sources / through salary a/c cheque. Xv) The financial position of the Company as disclosed and the representations made in the Application Form are true and correct and that the Company and its Board of Directors are responsible for the correctness and veracity thereof. Viii) Change of address of the first depositor should be intimated to Link Intime India Pvt. Deposits will be subject to the Rules/Guidelines issued from time to time by NHB or any other statutory authority and/or Central/State Government in connection with acceptance of Public Deposits by Housing Finance Companies.
The deposits are available for a minimum of one year and a maximum of 5 years are available. It may be noted that senior citizens will earn an extra 0.25 per cent interest rate on deposits up to Rs 20 crore for all tenures. LIC offers a term deposit called Public Deposit Scheme .
Explore Fixed Deposit Pages
No tax to be deducted at source on interest income upto Rs.5000 per financial year in LIC Housing Finance Fixed Deposits. With LIC Housing Finance Fixed Deposits, you can choose tenor between 12 and 60 months, to suit your financial needs. This can impact your liquidity needs, and help you ladder your investments, so that you can enjoy a higher cash inflow.
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.
RBI rules and guidelines are critical in establishing the economy's interest rates. Withdrawals are permitted three months from the start of the FD. TDS will be deducted at a higher rate of 20% rather than the standard 10%.
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.
In case an application is made under Power of Attorney or by a Body Corporate the relevant Power of Attorney or Resolution must be given. In most situations, a recession will have a negative impact on interest rates. This is the period when banks and financial institutions will begin to decrease the interest rates on most financial goods. Customers have the option of choosing between cumulative and non-cumulative term deposits. An investor can avail of a loan against LIC FD up to 75% of the deposit amount. Also, if the investor fails to provide PAN Card details to the bank, the TDS rate will be 20%.
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.
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.
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