Quick Answer: Which Is Better LIC Or FD?

Is there any LIC policy for 5 years?

LIC’s Jeevan Aastha is a single premium assurance plan which offers guaranteed benefits on death and maturity.

The Plan is close ended and would be available for a maximum period of 45 days from the date of its launch i.e.

08.12….2.Premium rates.Age at entryPolicy Term 5 yearsPolicy Term 10 years50180.85175.903 more rows.

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.

Which LIC plan gives maximum returns?

Best LIC PlansLIC PoliciesPlan TypeMaximum Maturity AgeLIC Tech Term PlanTerm Assurance Plan80 yearsLIC Jeevan UmangWhole Life Insurance100 yearsLIC Jeevan AmarTerm Assurance Plan80 yearsLIC Money Back 25 yearsMoney Back Policy70 years1 more row•4 days ago

Which FD scheme is best?

List of 10 best FD schemes for 3 yearsShriram City. … Mahindra Finance. … Sundaram Finance. … LVB. … ICICI Home Finance. … Yes Bank. … ICICI Bank. The annual percentage rate paid by ICICI Bank on FDs opened for a period of 3 years is 5.15% p.a. … HDFC Bank. The rate of interest paid on HDFC Bank FDs for a 3-year tenure is 5.30% p.a.More items…

Which govt bank is best for FD?

All Banks Fixed Deposit Interest Rates January 2021BanksFD Interest RatesPunjab National Bank3.00% – 6.00%RBL Bank3.25% – 7.45%SBI2.90% – 6.20%Standard Chartered Bank1.50% – 6.10%33 more rows

Which bank FD rate is high?

Fixed Deposit Interest Rates by Different BanksBankTenureInterest rateICICI Bank7 days to 10 years4% to 7.25%Punjab National Bank7 days to 10 years5.70% to 6.85%HDFC Bank7 days to 10 years3.5% to 7.40%Axis Bank7 days to 10 years3.5% to 7.25%2 more rows•Dec 2, 2020

How can I double my money in 5 years?

Rule of 72: Divide 72 by the Expected Annual Returns Since you want to double your money in 5 years, your investments will need to grow at around 14.4% per year (72/5). Or if your goal is to double in 10 years, you should invest in a manner to earn around 7.2% every year.

How many years FD will double in HDFC?

Key Features of HDFC Bank Fixed Deposit are: Deposit Amount: HDFC Bank FD can be opened with an amount as a low ₹ 5,000 to up to No Limit. FD Tenure: Ranges between 7 days to 10 years. Interest Rate Range: 2.50% p.a. to 5.50% p.a.

Is LIC fixed deposit 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.

What is lic interest rate?

The Policyholder’s Account i.e both Policyholder’s Regular Premium Account and Policyholder’s Top-up Premium Account will earn an annual interest of 6% p.a. provided the policy is inforce and 5% p.a. if the policy is paid-up. The interest rates will be guaranteed for the whole of the policy term.

How can I get fd in LIC?

Supporting Documents Required In Order 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.

Which bank is safe for FD?

To get the benefit of high rates, both SBI Bank and ICICI bank have a new FD scheme exclusively for senior citizens. The bank fixed deposits are becoming the first choice of depositors to keep their savings safe.