Maturity: ₹1,07,29,128 at 7.1% p.a. Interest earned: ₹7,29,128. Senior citizen maturity: ₹1,07,55,508.
| Year | Deposit | Interest Earned | Maturity Value |
|---|
A ₹1 Crore Fixed Deposit in LIC Housing for 1 Year at 7.1% p.a. (quarterly compounding) will mature to ₹1,07,29,128. You earn ₹7,29,128 as interest, giving a total return of 7.3% on your investment.
At 7.1% p.a. (quarterly compounding), ₹1 Crore FD in LIC Housing for 1 Year matures to ₹1,07,29,128. Interest earned: ₹7,29,128. Senior citizen maturity: ₹1,07,55,508 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 Crore at 7.1% for 1 Year, you would earn approximately ₹7,29,128 as interest, making total maturity ₹1,07,29,128. Senior citizens earn ₹7,55,508 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.