Good news for 60+ people! LIC's new FD scheme will give great interest LIC FD Scheme
LIC FD Scheme - If you or any senior citizen in your house, then this news is very useful for you. LIC i.e. Life Insurance Corporation of India has launched a new Fixed Deposit Scheme (FD scheme) for those aged 60 years or above. Its purpose is clear - to give the elderly an investment option that is reliable, safe and which also gives them good interest.
Now when the FD interest rates of banks are not very special and the stock market is showing a new game every day, then this FD scheme of LIC is a perfect fit for those who want to stay away from risk.
What is special in this LIC FD scheme?
First of all, let's talk about its specialty:
High interest rates: Interest rates for senior citizens are higher than common investors. Meaning the return will be good.
Flexible period: If you want, invest money for one year or up to 10 years - your choice.
Facility to apply online: You can open this FD from home. No need to go anywhere.
Benefit of insurance cover: By investing in LIC's FD, you also get a limited insurance protection, which makes it more special.
Talking about returns…
Here are the interest rates for different time periods (these rates may change from time to time):
Period Normal interest rate For senior citizens
1 year 6.5% 7.0%
2 years 6.75% 7.25%
3 years 7.0% 7.5%
5 years 7.25% 7.75%
10 years 7.5% 8.0%
Benefits of LIC FD that you must know
Government-backed company: LIC is a trusted institution of the Government of India, so your money will be safe.
Facility to get interest every month or quarter: If you want some income every month, then this option is also there.
Tax relief: You can also get tax exemption on investment under section 80C of Income Tax.
Partial withdrawal facility: In case of an emergency, you can withdraw the required amount.
How to invest in LIC FD?
It is very easy to apply for this. There are two ways – online and offline.
Online method:
Go to the LIC website
Go to the FD scheme section
Fill the registration form
Upload the required documents
Deposit the amount you want to invest
You will get confirmation in a few hours or 1-2 days
Required documents:
Aadhaar card
PAN card
Passport size photo
Address proof
Bank details
Income proof (if required)
This FD scheme of LIC has emerged as a great and safe investment option for the elderly. This scheme is perfect for those who want some fixed returns every month, who want to stay away from risk.
If you or someone in your family is above 60 years of age, then definitely take a look at this scheme. It would be better to go to LIC's website and confirm the interest rate and terms before investing.
