Written on December 25, 2010 at 3:35 pm by Amit

LIC Housing Finance Limited Public Deposit Scheme

Filed under Fixed Deposit, Fixed Income {no comments}

LIC Housing Finance Limited is one of India’s largest Housing Finance Companies providing financial assistance in the construction and purchase of house/flat since 1989; having nation-wide network across 6 Regional Offices, 13 Back Offices and 158 Marketing Units.

LIC Housing Finance Limited has started the Public Deposit Scheme from May 10, 2007 onwards.

Features and Benefits of LIC Housing Finance Limited Public Deposit Scheme:

No tax deduction at source on interest from deposits upto Rs. 5,000/- in a Financial Year
Cheque/Demand Draft for placing deposits should be drawn in favour of ‘LIC HOUSING FINANCE LIMITED-PUBLIC DEPOSIT A/C’ and marked “Account Payee only” payable at the city in which selected offices of the Company are located
For Senior Citizens, Additional interest of @ 0.10% p.a. will be more on deposits upto Rs.50,000/- and 0.25% will be more on deposits above Rs.51,000/- payable for all the terms
Under Non-Cumulative Option, interest will be paid half yearly i.e., 30^th September and 31^st March
Below Rates of interest on Public Deposits with effect from June 15, 2009

Term	Interest Rate for General Public	Interest Rate for Senior Citizens with deposits up to Rs. 50,000	Interest Rate for Senior Citizens with deposits above Rs. 51,000
1 year	9.00%	9.10%	9.25%
18 months	9.00%	9.10%	9.25%
2 years	9.25%	9.35%	9.50%
3 years	9.50%	9.60%	9.75%
5 years	9.50%	9.60%	9.75%