LIC FD Scheme : If you also want to invest your hard-earned money in a safe place and earn a fixed monthly income, then LIC’s new FD scheme can be a great option for you. Nowadays, people look for investments where there is no risk of losing money and they receive timely interest payments. LIC’s new FD scheme has been designed especially for such investors — offering both trust and guaranteed monthly income. Let’s understand the important details of this scheme in detail.
What is the LIC FD Scheme?
The LIC FD Scheme is actually a corporate fixed deposit plan launched under LIC Housing Finance Limited. This scheme allows investors to invest their money at a fixed interest rate with full safety. The minimum investment amount in this FD is ₹1 lakh, and there is no upper limit on investment. The interest rate offered ranges from 7.25% to 7.75% per annum, with senior citizens getting an additional 0.25% benefit. The tenure of the FD ranges from one year to five years, making it ideal for those who want safe and timely returns on their investments.
Fixed Monthly Income Benefit
The biggest advantage of the LIC FD Scheme is that investors receive a fixed monthly income in the form of interest. This is especially beneficial for pensioners or those who want an additional monthly income.
For example, if someone invests ₹1 lakh, they can earn a fixed monthly income of around ₹4,682. This income is directly credited to the investor’s bank account, ensuring timely payments without any hassle. This feature provides not only financial security but also peace of mind to investors.
Tax Benefits and Withdrawal Rules
Investors in the LIC FD Scheme also get certain tax benefits. If someone invests for a period of five years, they can avail of tax exemption under Section 80C of the Income Tax Act. Moreover, if your total interest income in a financial year is below ₹40,000, you can submit Form 15G or 15H to avoid TDS deduction.
In case of emergency, you can prematurely withdraw your FD after three months, but the interest rate will be slightly reduced. If the FD is broken before six months, no interest will be paid. Therefore, it is advisable to stay invested for the chosen tenure to get the maximum benefits.
In summary, the LIC FD Scheme is a reliable and safe investment option for individuals who seek stable returns and fixed monthly income without taking market risks.
