LIC Housing Finance Ltd
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 10th May, 2007 onwards. The Deposits accepted under Cumulative Option and Non-Cumulative Option. The terms of the deposits are 1 year, 18 months, 2 years, 3 years & 5 years in both the schemes. The payment of interest under cumulative Option will be compounded with half yearly rest. Under Non-Cumulative Option, interest will be paid half yearly i.e., 30th September and 31st March.
Who can Apply:- Any Co. (Public Ltd./Private Ltd..), Individual( Resident / NRI / PIO), Minors through guardians, Association of Persons, HUF, Co-op societies, Sole Proprietorship and P’ ship firms,
Note:- NRIs/PIOs can invest upto 3 years only. through NRO A/c
TDS will be deducted at source as per Sec. 194A of IT Act, 1961. However form 15G is to be submitted otherwise.
The deposit Receipt and Interest Warrant will be sent directly to the first A/c holder at the address mentioned in the form within 4 weeks.
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.
| Tenure | Cumulative Scheme * - Yield % p.a. |
Non- Cumulative Scheme ** - Rate Of Interest % p.a. |
Min. Amt. | Rating | Additional Rate (If any) |
| 12 Months | 6.75% | 6.75% | 10,000 | FAAA | 0.10% Additional for Senior Citizen for deposits upto Rs. 50,000. |
| 18 Months | 6.80% | 6.80% | |||
| 24 Months | 7.25% | 7.25% | |||
| 36 Months | 7.50% | 7.50% | 0.25% Additional for senior Citizens for Deposits of Rs. 51,000 & above. | ||
| 60 Months | 8.00% | 8.00% | |||
| * The rate of interest mentioned above will be compounded Half Yearly to give a higher effective yield. | |||||
| ** Interest will be paid half yearly. | |||||
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REGISTRAR OF PUBLIC DEPOSIT:
Link Intime India Private Limited C-13, Pannalal Silk Mills Compound, L.B.S.Marg, Bhandup (W), Mumbai-400078. Telephone Nos. 25963838 & 25963857, Fax:25962691 & 25946969.Related posts:
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LIC Housing Finance | admin May 14, 2010
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