What Is The Interest Rate In LIC?

Which is better FD or LIC?

Thinking of short and long term investments, FDs are better.

Life insurance plan are suitable only as long term investment options.

The minimum period of investment in a life insurance plan is about 10 years.

The minimum amount that you can deposit in a FD plan is Rs..

How do you calculate the interest rate?

Simple Interest Formulas and Calculations:Calculate Total Amount Accrued (Principal + Interest), solve for A. A = P(1 + rt)Calculate Principal Amount, solve for P. P = A / (1 + rt)Calculate rate of interest in decimal, solve for r. r = (1/t)(A/P – 1)Calculate rate of interest in percent. … Calculate time, solve for t.

What is the average return on LIC?

The average return on investment for LIC over a period of ten years between 2005-2006 and 2014-2015 has been 6.7%. The average return on a ten-year bond has been 7.9%. The difference between the two returns is 120 basis points. In fact, the average rate of inflation between 2005-2006 and 2014-2015 was 8.85%.

What will be the EMI for 20 lakhs home loan?

Check EMI Calculation for 20 Lakh home loan for 5, 10, 15, 20 Years or How much EMI you have to pay for 20 Lakh home loan amount per month?…EMI Calculation for 20 Lakh Home Loan amount for Various Tenure Options:Tenure OptionsEMI Per Month5 YearsRs.4056010 YearsRs.2426015 YearsRs.1912020 YearsRs.167202 more rows

Which is better SBI or LIC Home Loan?

As per the current rates, LIC Housing Finance offers a lower interest rate of 6.90% on Home Loan when compared to SBI which offers a Home Loan at 6.95%.

Is PPF a good investment?

Tax Benefit Investment in PPF is tax free up to a limit of Rs 1,50,000 under Section 80C of the Income Tax Act, 1961, for each financial year. The interest on the PPF is also tax exempt but must be declared in the income tax return filed each year. The PPF corpus amount upon maturity is also exempt from tax.

What is the interest rate on LIC policy?

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.

What is the current home loan interest rate in LIC?

6.90% to 7.90%LIC Housing Finance: Check Interest Rates, Documents, EMI, Eligibility on LIC housing Finance. Interest rates starts from 6.90% to 7.90%. LIC Housing Finance Ltd. is one of the largest Housing Finance Company in India….LIC Housing Finance Details:Interest Rates6.90% – 7.90%Loan Repayment3 to 30 years7 more rows

Is PPF better than LIC?

The Public Provident Fund tends to provide a far superior rate of returns compared to an LIC policy like Jeevan Anand. What you should do is invest in the PPF and take a term policy online, which is cheaper and faster. In the term policy you do not get your money back, but, you are provided with solid insurance.

Can a person have 2 PPF accounts?

The PPF rules allow the same individual to open another account in the name of a minor but it does not allow to hold more than one PPF account in one’s own name. While only one PPF account is allowed to be opened in one’s name, there could be a possibility that one ends up holding multiple PPF accounts.

Which plan is best in LIC?

More videos on YouTubeLIC 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