LIC Housing (LIC HFL) is a leading financial institution in India, primarily involved in providing housing finance. The company also accepts public deposits. LIC Housing’s FD schemes are rated FAAA/Stable by CRISIL, making it a safe and preferred savings option. The rates offered on LIC Housing’s fixed deposits are comparable, if not better than those offered by leading banking institutions in India.
The above table accurately captures all information pertaining to the latest interest rates offered on LIC Housing fixed deposit schemes.
The updated list of LIC Housing Finance FD Rates, for Regular and Senior Citizen, is listed below:
|Tenure||Regular FD Rates||Senior Citizen FD Rates|
|1 YEAR||7.30% p.a.||7.40% p.a.|
|18 MONTHS||7.35% p.a.||7.45% p.a.|
|2 YEAR||7.50% p.a.||7.60% p.a.|
|3 YEAR||7.50% p.a.||7.60% p.a.|
|5 YEAR||7.50% p.a.||7.60% p.a.|
At 8.00% p.a., the company offers very attractive rates on short-term savings. This rate is applicable on its FD schemes with terms ranging between 1 year and 1.6 years. Returns, are compounded on a bi-annual basis.
The interest rate on a 2-year deposit is 8.10%. This is increased by 0.05% for deposits with durations of 3 and 4 years to 8.15%. The highest rate on offer is for the 5-year scheme at 8.25%.
Senior citizens earn 0.25% extra on interest rates across the fixed deposit schemes of above Rs. 51,000/- on offer by LIC HFL. This puts returns in the range of 8.25% to 8.50% for this category of deposit holders.
LIC Housing Finance has initiated rate cuts on its FD products as have other NBFCs. The company reduced rates by 25 to 40 basis points on FDs with holding periods of 3 to 5 years.
These cuts follow reductions in interest rates on bank FDs after the repo rate cut which prompts banks to lower both deposit and lending rates. With further cuts from RBI, deposit rates are likely to be revised downwards again in coming months.
Bank FDs currently offer returns at the rate of 8% to 8.5% which is about 1% to 1.5% lower than that offered by non-banking companies.
6th May 2015
ICICI direct.com enables its customers to invest in corporate fixed deposits provided by HDFC LTD. With ICICIdirect.com, customers can now enjoy seamless and secured trading, and invest in fixed deposits based on their investment needs. Resident individuals, trusts, and NRI can invest in corporate fixed deposits offered by HDFC LTD through ICICI direct.com. ICICI direct.com is an online trading platform provided by ICICI Bank to help its customers invest in various trades like mutual funds, FDs etc.
10th February 2015