Question: Is LIC Better Than FD?

Which LIC plan is best for pension?

LIC Jeevan Nidhi PlanYes, LIC Jeevan Nidhi Plan, LIC Jeevan Akshay Plan, Pradhan Mantri Vaya Vandana Yojana are some of the pension plans offered by LIC….The following are considered the top pension plans in India at present.LIC Jeevan Akshay VI plan.LIC Jeevan Nidhi Plan.HDFC Life Click2Retire Plan.Reliance Smart Pension Plan..

Is LIC Jeevan Anand a good investment?

As the name suggests, this whole life endowment plan continues to provide coverage till the death of the insured even after the maturity of the plan. … If you are searching for an endowment plan that provides the advantages of an entire life policy then LIC Jeevan Anand is one of the best choices to go for.

Which bank FD rate is high 2020?

IDFC Bank offers the highest FD interest rate of 5.75% p.a. which is for a tenure of 500 days for the general public. For senior citizens, the interest rate is 0.50% more. Axis Bank also offers the highest interest rate of 5.75% for tenure between 5 years and 10 years.

Is FD in LIC safe?

The LIC HFL FD is rated as a stable and safe investment to make by CRISIL. This means that the investment is a highly stable one that offers guaranteed returns. The interest rates offered on LIC fixed deposits are very competitive and offers a higher rate of return when compared to your average savings account.

Which is the best FD?

List of 10 best FD schemes for 3 yearsFincare Small Finance Bank. Fincare offers attractive rates of interest on the 3-year tenure. … KTDFC. A lucrative rate of 6.00% p.a. is paid for term deposits opened for a period of 3 years. … Shriram City. … Mahindra Finance. … Sundaram Finance. … LVB. … ICICI Home Finance. … Yes Bank.More items…

Which plan is best in LIC?

Best LIC Plans for 2021LIC PoliciesPlan TypePolicy TermLIC Jeevan UmangWhole Life Insurance100 years minus(-) the age at entryLIC Jeevan AmarTerm Assurance Plan10 years-40 yearsLIC Money Back 25 yearsMoney Back Policy25 yearsLIC New Jeevan AnandEndowment Plan15 years-35 years1 more row

Which LIC plan is best for 5 years?

Best 5-Year LIC Plans Offered in India:Jeevan Akshaya VI: This plan is suitable for customers who wish to avail retirement solutions by paying upfront a lump-sum amount. … LIC’s New Jeevan Nidhi:

Which LIC plan is best for child?

The premium under the LIC child plan is to be paid for a limited term only….LIC Jeevan Tarun.MinimumMaximumPolicy Term25 years – the entry age of the childSum AssuredRs.1 lakhNo limitAnnual Premium AmountRs.24, 000No limitPremium Payment Term10 years, 5 years or (term – 5) years3 more rows

Is LIC Jeevan Umang a good policy?

Highlights of LIC Jeevan Umang Plan The insurance plan is a blessing as it offers coverage for the entire life i.e. for 100 years. 8% of the Sum Assured is paid every year as money back on survival at the end of the policy term. Large Sum Assured available under this plan.

Which is better FD or LIC?

Fixed deposits are best for both short and medium term investments whereas life insurance plans are designed for long term investments. You can invest for a period of as low as 7 days in fixed deposits unlike a life insurance plan wherein you need to invest for at least 10 years. You can invest a minimum amount of Rs.

What is lic interest rate?

LIC Housing Finance FD interest rates range between 5.50% and 5.60% for regular citizens, and the tenure range being 12 months to 5 years. Also, LIC offers preferential interest rates for senior citizen depositors. The FD rates for senior citizens range between 5.65% to 5.75%.

Which bank is best for FD?

Best FD Interest Rates in India 2021BankSenior Citizen’s FD Interest RatesRegular FD Interest RatesHDFC Bank3.25% – 6.00%2.75% – 5.50%ICICI Bank3.25% – 6.00%2.75% – 5.50%IDBI Bank3.50% – 6.40%3.00% – 5.80%IDFC Bank4.50% – 8.75%4.00% – 8.25%29 more rows

How can I get fd in LIC?

Documents Required to Open a Fixed Deposit Account with LIC Housing Finance Ltd.The application form duly filled out.Identity proof (PAN card)Address proof.KYC documents.

How can I withdraw my lic FD?

Premature Withdrawal of LIC Housing FD Customers of the Sanchay scheme have the option to withdraw before the maturity date, i.e. before the completion of the tenure. This is termed as premature withdrawal. Important aspects of the same are: Withdrawal can be made on completion of 3 months after the commencement of FD.

How many years FD will double in LIC?

14 yearsLet’s say the interest offered on FD is 6.95%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/6.95 = 10.36. So it will take a little more than 14 years for one’s investment to get doubled in LIC Housing Finance.

Is LIC a good investment option?

Is LIC Plan a good investment? Yes, LIC offers best life insurance plans. If you are looking for investment and protection option under one product, you can consider Endowment or Unit Linked Investment Plan (ULIP) as per your risk appetite and financial objectives.

How can I get 1 crore insurance?

LIC Tech Term Plan 1 CroreThe minimum entry age to buy this LIC term insurance for Rs. 1 Crore is 18 years.The maximum entry age is 65 years.The maximum age of maturity is 80 years.The minimum basic sum assured for this term insurance policy is Rs. 50 lakh with no upper limit. … This LIC term plan of Rs.Mar 10, 2021

How many years FD will double in HDFC?

With HDFC Fixed Deposit, you can invest your money for a tenure anywhere between 7 days to 10 years and earn interest over the deposited amount. You can earn FD interest rate of 5.50% p.a. for a tenure ranging between more than 5 years and 10 years. Senior citizens enjoy an additional rate of interest of 0.50% p.a.

Which is the best LIC policy in 2020?

Top 6 LIC Plans In India 2020LIC PlansType of PlanPolicy Term (in years)LIC New Children’s money-back PlanTraditional money-back Child Plan25 years – Age at EntryLIC New Jeevan AnandEndowment Plan15 – 35LIC Jeevan UmangWhole Life + Endowment Plan100 – Age at EntrLIC Jeevan LabhEndowment Plan16/21/252 more rows

How is LIC maturity amount calculated?

If the insured survives till the end of the policy term and all premiums have been paid, a Maturity Benefit would be paid to the policyholder. Maturity benefit would be equal to the Sum Assured + Bonus Amounts which have been received throughout the policy term + any Final Addition Bonus if declared.

How can I double my money in 5 years?

Here are some options to double your money:Tax-free Bonds. Initially tax- free bonds were issued only in specific periods. … Kisan Vikas Patra (KVP) … Corporate Deposits/Non-Convertible Debentures (NCD) … National Savings Certificates. … Bank Fixed Deposits. … Public Provident Fund (PPF) … Mutual Funds (MFs) … Gold ETFs.More items…

Add a comment