Maximize Your Savings with LIC Housing Finance Ltd.'s Fixed Deposits

A well-known financial company in India, LIC Housing Finance Ltd., provides a variety of financial products and services, including fixed deposits (FDs). The FDs offered by LIC Housing Finance Ltd. are a terrific way to increase your savings because they provide a variety of tenures and high interest rates.

Here are some reasons why purchasing fixed deposits from LICHFL may be a wise move:

Exorbitant Interest Rates

Compared to savings accounts and other conventional investing choices, LIC Housing Finance Ltd.’s FDs provide greater interest rates. According to the tenure and kind of FD, the interest rates for LIC Housing Finance Ltd.’s FDs range from 7.25% to 7.75% annually as of April 2023.

Versatile Tenures

The adjustable terms of the FDs offered by LIC Housing Finance Ltd. range from one year to five years. This enables you to select a term that fits your financial objectives and time horizon for investments.

Set Returns

The set returns offered by LIC Housing Finance Ltd.’s FDs ensure that you know exactly how much money you will earn at the end of the term. It is now simpler for you to arrange your budget and reach your financial objectives.

Secure and Safe

The financial company LIC Housing Finance Ltd. has a solid reputation for providing consumers with excellent service for more than 30 years. Due to their AAA rating from the top credit rating agencies, investments in the FDs of LIC Housing Finance Ltd. are risk-free and secure.

Simple to invest

The FDs offered by LIC Housing Finance Ltd. are simple and hassle-free to invest in. By going to a branch of LIC Housing Finance Ltd., you can make an offline or online investment. To determine the interest generated and the maturity amount, you can use use the online FD calculator.

Let’s look at some suggestions to make the most of your money with these FDs.

Pick the Correct Tenure

When investing in FDs from LIC Housing Finance Ltd., picking the appropriate tenure is essential. Choose a short-term FD with a tenure of 1–3 years if you have short-term financial objectives. Choose a long-term FD with a tenure of 5–10 years if you have long-term financial objectives. By doing this, you can be confident that you’ll get the best return on your investment.

Put money into accumulative FDs.

The two forms of FDs offered by LIC Housing Finance Ltd. are cumulative and non-cumulative. In cumulative FDs, interest is compounded annually and reinvested, meaning that interest is earned on interest. Long-term, this results in higher returns. Choose a cumulative FD if you don’t require regular income from your investments.

Diversify Your Investments

Every investing portfolio should be diversified. Diversify your portfolio by making investments in corporate fixed deposits like those offered by LIC Housing Finance Ltd. rather than putting all of your savings into bank FDs. You can spread out the risk and increase returns by doing this.

Source - https://medium.com/@rrfinanceseo/maximize-your-savings-with-lic-housing-finance-ltd-s-fixed-deposits-317ed78d68de