LIC (Life Insurance Corporation of India) has recently launched an innovative Fixed Deposit (FD) scheme that promises guaranteed, safe returns. This new FD offering is designed to provide a consistent monthly income to investors, making it a highly attractive option for individuals seeking stable financial growth. With an investment of ₹2 lakh, you can earn ₹13,000 every month an appealing prospect for those looking for a reliable source of income.
What is the LIC FD Scheme?
LIC’s new FD scheme is a fixed deposit plan that guarantees monthly returns to investors. The scheme is ideal for those who wish to park their money securely while earning regular income. With LIC’s strong reputation and backing from the government, the investment is considered safe and secure. This scheme comes with different tenure options, allowing investors to choose the best duration based on their financial goals.
Why Choose LIC for FD?
LIC is a trusted name in India, known for offering various insurance and financial products. Its FD scheme is designed to ensure maximum security for your invested capital while offering competitive returns. The new plan is backed by the corporation’s financial strength, providing peace of mind to investors. Moreover, LIC FDs come with tax benefits, making them an attractive option for those looking to save on taxes as well.
Key Features of the FD Scheme
This FD scheme from LIC comes with several notable features. The minimum investment required is ₹2 lakh, and the scheme promises monthly payouts of ₹13,000, ensuring a regular income stream for investors. The interest rate offered is competitive, and the tenure options are flexible, typically ranging from 1 year to 5 years. The scheme also offers the facility of premature withdrawal in case of emergency, with some conditions applied.
Safe and Reliable Investment
One of the key advantages of investing in LIC’s FD scheme is the safety it offers. Being backed by the government, LIC FDs are considered low-risk investments. Investors do not have to worry about market volatility affecting their returns. Furthermore, the scheme offers a fixed rate of interest, ensuring predictable income throughout the investment period. The stability of LIC’s financial health makes this FD a reliable choice for conservative investors.
How Much Can You Earn?
By investing ₹2 lakh in LIC’s new FD scheme, you can earn up to ₹13,000 per month. This amounts to an annual income of ₹1.56 lakh, providing a steady stream of cash flow. The returns from this FD can be especially beneficial for retirees or those looking to supplement their income without taking on high-risk investments. The monthly payout structure ensures that your funds are working for you regularly, giving you financial security.
Tax Benefits on LIC FD
Investors in LIC’s FD scheme can also avail of tax benefits under Section 80C of the Income Tax Act. However, it is important to note that the interest earned on the FD is taxable, and tax will be deducted at source (TDS). But with the overall safety and reliable returns, the scheme remains a great option for those looking to earn a regular income while enjoying the tax advantages.
How to Invest in LIC FD?
Investing in LIC’s new FD scheme is a straightforward process. You can visit your nearest LIC branch or their official website to apply for the scheme. LIC also allows online investments, making it easier for customers to invest from the comfort of their homes. The documentation process is minimal, and once the FD is opened, you can start receiving your monthly payouts as per the agreed terms.
Conclusion
LIC’s new FD scheme offers a unique opportunity for individuals looking for a safe, reliable, and regular source of income. With a ₹2 lakh investment, you can earn ₹13,000 monthly, making it a perfect choice for those seeking financial stability without taking on risk. With its government-backed security, tax benefits, and easy investment process, LIC’s FD scheme is set to be a popular choice for investors across India.
Disclaimer: The returns and features mentioned in this article are subject to change. Please consult LIC or a financial advisor for the latest terms, conditions, and investment details before proceeding.