LIC Housing Finance Ltd has launched a public deposit scheme “Sanchay” whereby it will offer the highest interest rate of 9.50 per cent on five-year deposits. The term period for deposits ranges from one to five years with minimum amount of deposit being Rs. 10,000 and thereafter in multiples of Rs 1,000. The rate of interest (for deposits up to Rs. 5 crore) ranges from 8.75 per cent to 9.50 per cent for general public for period ranging from one year to five years. For senior citizens, the company offers additional 0.10 per cent for deposits up to Rs 50,000 and 0.25 per cent for deposits of Rs 51,000 and above.
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