LIC New FD Scheme – There’s finally some great financial news for senior citizens! The Life Insurance Corporation of India (LIC) has launched an exciting new FD-like scheme — and it’s made especially for retirees who want fixed, dependable monthly income without worrying about market ups and downs.
If you’re looking for safe investment options after retirement, or just want a steady paycheck every month, this LIC plan could be a perfect fit.
Let’s break it down in simple words — what’s new, who’s eligible, how much you can earn, and how to apply!
What is LIC’s New FD Scheme for Senior Citizens?
This new plan by LIC acts just like a Fixed Deposit (FD) — but it’s designed specifically for senior citizens.
Instead of saving and locking your money for years without any regular income, this scheme offers:
Also Read:
8th Pay Commission Clarification: Govt Confirms No 8th Pay Commission Benefits for Pre-2026 Retirees
- A guaranteed monthly payout, so you always have cash in hand.
- Higher returns compared to regular FDs.
- Flexible deposit options based on what you can comfortably invest.
Plus, it’s totally safe — being managed by LIC, India’s most trusted government-backed insurance giant!
Who Can Apply? (Eligibility Criteria)
Before you rush to sign up, here’s a quick look at who qualifies:
- You must be an Indian citizen.
- Your minimum age should be 60 years.
- There’s no maximum age limit (subject to basic medical fitness, if needed).
- You must have proper KYC documents ready like Aadhaar, PAN, and address proof.
Simple, right? If you tick these boxes, you’re good to go!
Also Read:
RBI Big Update: New ₹10 and ₹500 Notes Launched with Sanjay Malhotra’s Signature – See What’s New!
Why This LIC FD Scheme Is a Game-Changer for Seniors
This plan offers some seriously attractive benefits for retirees:
- Stable Monthly Income: No worries about share market crashes or dropping interest rates!
- Higher Interest Rates: Much better than what most banks are offering today.
- Loan Facility: Need emergency cash? You can take a loan against your deposit after a few months.
- Premature Withdrawal Option: If needed, you can break the FD early (small penalty applies).
- Complete Financial Independence: No need to depend on kids or others — you manage your money on your own.
Monthly Income Details: How Much Can You Earn?
Your monthly income depends on how much you invest.
Here’s a simple table to help you understand:
| Deposit Amount (₹) | Approx Interest Rate | Monthly Income (₹) | Tenure Options |
|---|---|---|---|
| ₹1,00,000 | 7.5% | ₹625 | 5–10 years |
| ₹2,00,000 | 7.5% | ₹1,250 | 5–10 years |
| ₹3,00,000 | 7.5% | ₹1,875 | 5–10 years |
| ₹5,00,000 | 7.5% | ₹3,125 | 5–10 years |
| ₹7,50,000 | 7.5% | ₹4,687 | 5–10 years |
| ₹10,00,000 | 7.5% | ₹6,250 | 5–10 years |
| ₹15,00,000 | 7.5% | ₹9,375 | 5–10 years |
(Note: Final income may vary a little depending on LIC’s current rates.)
How to Apply for LIC Senior Citizen FD Scheme
Applying is really easy and stress-free.
Here’s what you need to do:
- Visit your nearest LIC branch or go to the official LIC website.
- Fill out the Senior Citizen FD application form.
- Attach documents like Aadhaar, PAN card, proof of age, and address proof.
- Choose your deposit amount and tenure — whatever suits your needs.
- Pay the deposit amount through cheque, draft, or online transfer.
- Receive your policy document and confirmation certificate once your application is approved!
Documents You’ll Need to Carry
- Aadhaar Card (for ID and address proof)
- PAN Card (for tax purposes)
- Bank account details (for monthly income transfer)
- Senior citizen proof (age verification)
- Two recent passport-size photos
Keep all documents ready to speed up your application!
Important Terms and Conditions
Here are some things you should know before investing:
- Monthly income starts one month after deposit confirmation.
- You can close the FD early after 3 months (penalty charges apply).
- LIC can revise interest rates anytime (only for new investors).
- TDS will be deducted if your interest income crosses the exemption limit.
- Loans can be availed after 6 months of deposit period.
LIC’s Scheme vs Regular Bank FD: Quick Comparison
| Feature | LIC Senior Citizen FD | Regular Bank FD |
|---|---|---|
| Monthly Payout | Yes | Limited |
| Interest Rate | Higher | Lower |
| Loan Facility | Yes | Yes |
| Premature Withdrawal | Allowed (with penalty) | Allowed (with penalty) |
| Security | Very High (Govt-backed) | High |
Clearly, LIC’s scheme offers better security and more benefits!
Why Should Seniors Consider LIC’s New Scheme?
If you want a worry-free retirement, this plan is built just for you.
Here’s why it makes sense:
- Zero market risk — your money stays safe.
- Steady monthly income for all your day-to-day expenses.
- Better returns than regular savings accounts or most FDs.
- Simple paperwork and fast approvals.
- LIC’s brand trust — India’s most reliable financial institution.
Final Words
LIC’s new FD scheme for senior citizens is truly a blessing for those who value financial independence and monthly stability.
It’s easy to apply, offers better returns, and gives you the comfort of a steady income during your retirement years.
If you’re a senior citizen (or know someone who is), it’s the perfect time to check out this plan and enjoy peace of mind with guaranteed monthly payouts!
Also Read:
EPF Pension Update : EPFO Launches Direct Bank Transfers for Pensioners – Full Details Inside
As always, read the full scheme document carefully and consult a financial advisor if needed — but don’t miss out on this great opportunity!