Life Insurance Corporation of India (LIC) has brought in goods with new offerings with such an FD scheme that is feasible for monthly-regular-return investors. Rajiv was being given a guaranteed sum of ₹6,500 per month on deposits of ₹1 lakh; this is a great opportunity for souls looking for guaranteed profit with no risk in the market. The scheme stands testimony to LIC’s continued endeavour to provide safest investment options to investors of a conservative nature.
Salient Features of LIC FD Scheme
The newly launched LIC FD scheme offers investors monthly assured payouts, providing very predictable payments and financial security. Contrasting with market-linked investments, these kinds of FDs offer fixed returns and are suitable for retirees, pensioners, or anyone who prefers to have a steady flow of income. Upon deposits of ₹1 lakh, a monthly return of ₹6,500 is among the highest guaranteed payouts available for a similar type of government-backed product.
Eligibility and Investment Procedure
Anyone who wishes to go for secure investments can open the LIC FD. The investor goes to the nearest branch of LIC with his/her documents including identity proof and address proof to complete the formalities. This is a simple process with a one-time deposit of ₹1 lakh, upon which the monthly payouts will start as per the chosen plan. LIC gives the investor the option to re-invest the payouts or get paid directly into his/her bank account, thus providing complete choices to the investor.
Benefits for Investors
The deposit scheme asserts its dominance in providing regular income on low-risk investments. The scheme promotes stability, thus managing monthly expenses or medical bills or household needs. With the government as the backing, the scheme carries minimal risk to capital, giving investors the satisfaction that their money is safe.
Tax Implications
The income generated by the LIC FD scheme may attract taxes as per the tax slab applicable to the investor. It is very important that the investors understand tax implications so as to plan their finances accordingly. Documentation is provided by LIC that may be used by investors to report income while filing tax returns, making this a seamless process.
Summing Up
Being a low-risk investment given even the return guarantees, the age-old FD scheme of LIC that yields ₹6,500 per month on a deposit of ₹1 lakh is quite attractive for such investors. People looking for financial steadiness who could be retired, pensioners, or conservative investors will find this scheme appealing due to the guarantees and ease of application, besides the government backing. This launch only reinforces LIC as a trusted provider of secure financial solutions in India.