The Life Insurance Corporation of India (LIC) has introduced an exciting new Fixed Deposit (FD) scheme aimed at senior citizens, offering attractive returns and enhanced security. This move is set to benefit thousands of retirees looking for safe and high-yield investment options in 2025.

Here’s everything you need to know about LIC’s new FD scheme for senior citizens.

What is the New LIC FD Scheme for Seniors?

LIC’s newly launched FD scheme is specially designed for individuals aged 60 years and above, providing higher interest rates compared to regular deposit plans.
This FD plan combines guaranteed returns, flexibility, and security, making it an ideal choice for retirees who prefer stable income without market risks.

Key Features of LIC’s Senior Citizen FD Scheme 2025

Higher Interest Rates: Senior citizens will enjoy an additional interest rate bonus over the standard FD rates.
Flexible Tenure Options: Depositors can choose tenures ranging from 1 year to 5 years, depending on their financial needs.
Monthly, Quarterly, and Annual Payouts: Choose how often you want to receive your interest income.
Loan Facility: Need urgent cash? You can avail a loan against your LIC FD without breaking it.
Premature Withdrawal: Allowed under certain conditions with minimal penalty charges.
Auto-renewal Option: Easily renew your FD on maturity without complicated paperwork.

Benefits for Senior Citizens

Guaranteed Income: Perfect for managing regular expenses post-retirement.
Zero Risk: LIC is a government-backed institution, making it one of the safest places to park your savings.
Tax Benefits: Some investments may qualify for deductions under Section 80C of the Income Tax Act (consult a tax advisor for eligibility).

Eligibility Criteria

Applicant must be a resident Indian.
Age must be 60 years or above at the time of FD creation.
Submission of basic KYC documents like Aadhaar card, PAN card, and proof of age is mandatory.

How to Apply for LIC Senior Citizen FD 2025

Applying is simple and hassle-free:

Visit your nearest LIC branch or the official LIC website.
Fill out the FD Application Form mentioning the scheme specifically for senior citizens.
Submit required documents and deposit the amount.
Collect your FD receipt and enjoy peace of mind!

Important Things to Keep in Mind

Always compare the interest rates with other banks and NBFCs before finalizing.
Check for any hidden charges related to premature withdrawal.
Ensure your nominee details are updated while opening the FD.

Final Thoughts

LIC’s new FD scheme for seniors in 2025 is an excellent choice for retirees looking for higher payouts, secure investment options, and regular income. With flexible terms and government-backed trust, this scheme can be a cornerstone of your retirement planning.

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