Maturity: ₹1,07,291 at 7.1% p.a. Interest earned: ₹7,291. Senior citizen maturity: ₹1,07,555.
| Year | Deposit | Interest Earned | Maturity Value |
|---|
A ₹1 Lakh Fixed Deposit in LIC Housing for 1 Year at 7.1% p.a. (quarterly compounding) will mature to ₹1,07,291. You earn ₹7,291 as interest, giving a total return of 7.3% on your investment.
At 7.1% p.a. (quarterly compounding), ₹1 Lakh FD in LIC Housing for 1 Year matures to ₹1,07,291. Interest earned: ₹7,291. Senior citizen maturity: ₹1,07,555 at 7.35%.
LIC Housing offers 7.1% p.a. for general citizens and 7.35% p.a. for senior citizens on 1 Year Fixed Deposit. The rate applies regardless of the deposit amount.
For ₹1 Lakh at 7.1% for 1 Year, you would earn approximately ₹7,291 as interest, making total maturity ₹1,07,291. Senior citizens earn ₹7,555 at 7.35%.
Yes, premature withdrawal is allowed. LIC Housing's policy: Allowed after 3 months with penalty. You will receive a reduced interest rate on early withdrawal.
Compare with other banks on this page to find the best rates. NBFC FDs typically offer higher rates but without DICGC insurance. Consider both rate and safety.