LIC Housing Finance FD Calculator
LIC Housing Finance Fixed Deposit Calculator 2020
LIC Housing Finance FDs have tenures ranging from 36 months to 60 months with maximum rate of interest of 6.00%. Interest rates for senior citizens are higher than the normal rates and ranges upto 6.25%.
| Tenure | Rates | Maturity Amount for ₹ 1 Lakh |
|---|---|---|
| 1 year | 5.90% to 6.15% | ₹ 1,06,032 - ₹ 1,06,293 |
| 1 year 6 months | 5.90% to 6.15% | ₹ 1,06,032 - ₹ 1,06,294 |
| 2 years | 5.90% to 6.15% | ₹ 1,12,427 - ₹ 1,12,983 |
| 3 years | 6.00% to 6.25% | ₹ 1,19,562 - ₹ 1,20,448 |
| 5 years | 6.00% to 6.25% | ₹ 1,34,686 - ₹ 1,36,354 |
LIC Housing Finance Fixed Deposit Calculator
LIC Housing Finance fixed deposit calculator helps you to calculate maturity value of your deposited amount at the interest rate offered compounded at quarterly. The amount of fixed deposits, interest rates on FD, deposit tenure and compounding frequency of interest together determine the maturity amount of the FD at the end of the tenure.
LIC Housing Finance Fixed Deposit Interest Calculator – Interest Payment Options
FD Maturity Calculator
The interest earned on a fixed deposit in LIC Housing Finance depends on the deposit amount, interest applicable, deposit tenure and the type of interest calculation frequency. Interest on LIC Housing Finance FD can be calculated monthly, quarterly, half-yearly and annually. The interest rates for senior citizens are higher than normal rates of LIC Housing Finance FD.
Suppose if you make an investment of ₹ 1,00,000 in LIC Housing Finance FD for a 5-year tenure at an interest rate of 6.00% for depositors below 60 years and 6.25% for senior citizens. The maturity amount for this deposit amount is ₹ 1,34,686 and the total interest earned is ₹ 34,686 for below 60 years age citizens. However, the interest earned for senior citizens is ₹ 36,354 which is higher. The maturity schedule of LIC Housing Finance FD for 5 years is explained below in the table –
Maturity Schedule for ₹ 1,00,000 FD at 6.00% for Citizens below 60 years and at 6.25% for Senior Citizens for 5 years
| Year | Citizens below 60 Years of Age | Senior Citizens above 60 Years | ||||
|---|---|---|---|---|---|---|
| Interest Earned | Closing Balance | Interest Earned | Closing Balance | |||
| 2020 | ₹ 2,005 | ₹ 1,02,005 | ₹ 2,089 | ₹ 1,02,089 | ||
| 2021 | ₹ 6,259 | ₹ 1,08,264 | ₹ 6,532 | ₹ 1,08,621 | ||
| 2022 | ₹ 6,643 | ₹ 1,14,907 | ₹ 6,950 | ₹ 1,15,571 | ||
| 2023 | ₹ 7,051 | ₹ 1,21,958 | ₹ 7,394 | ₹ 1,22,965 | ||
| 2024 | ₹ 7,484 | ₹ 1,29,442 | ₹ 7,867 | ₹ 1,30,832 | ||
| 2025 | ₹ 5,243 | ₹ 1,34,685 | ₹ 5,523 | ₹ 1,36,355 | ||
LIC Housing Finance FD Calculator Formula
Along with online FD Calculator, you can use the formula to do the mathematical calculation of the maturity amount and interest earned on LIC Housing Finance FD.
A = P (1 + r/n) ^ n*t
In the above formula –
FAQs
✅What is the highest interest earned on LIC Housing Finance fixed deposit?
You can earn a maximum interest of 6.00% on LIC Housing Finance fixed deposit.
✅How is LIC Housing Finance FD interest calculated?
The formula to calculate interest on LIC Housing Finance FD is
A = P(1+r/n)^nt
Here: A = Maturity amount
P = Invested amount
r = Interest rate as decimal
n = number of times interest is compunded
t = tenure of deposit
However, you can use online FD calculator to estimate the value of interest earned on the deposited amount.
✅How many years FD will double in LIC Housing Finance?
The growth of LIC Housing Finance FD depends on the rate of interest and tenure. There is a method called Rule 72, which computes the number of years it will take to double one’s amount invested in LIC Housing Finance FD. Now to apply the rule, one needs the rate of interest we get on FD. Let’s say the interest offered on FD is 7.35%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/7.35 = 9.80. So it will take a little more than 14 years for one’s investment to get doubled in LIC Housing Finance.
✅What are the minimum and maximum amounts that I can invest in an LIC Housing Finance FD?
The minimum investment limit in LIC Housing Finance Fixed deposit account is ₹ 1,000 and there is no maximum investment limit on FD.
- 2018-09-06 : LIC HFL revises FD rates
LIC Housing Finance Ltd (LIC HFL) has revised its FD rates for broadly all maturities. These rates range from 7.55% to 7.85% as the tenure goes up to 5 years. The revised rates would be effective from 01st September, 2018.