LIC Housing Finance To Launch FD Scheme

Mumbai: LIC Housing Finance Ltd has for the first time decided to attract the fixed deposit segment to raise Rs 1,000 crore this fiscal. The scheme will offer an interest of 9 per cent per annum on a three-year deposit and 9.25 per cent per annum on a five-year deposit. The minimum deposit is Rs 10,000 with multiples of Rs 1,000 thereafter. As 85 per cent of its customers are on floating interest rate loans, they can pass on the interest rate increases.