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Frequently Asked Questions
Ques. What is "SANCHAY"?
Ans. SANCHAY is the name of Public Deposit scheme offered by LIC Housing Finance Limited. The company started accepting deposits from May, 2007.
Ques. What is the credit rating of Deposit?
Ans. The “SANCHAY” Public Deposit Scheme is rated FAAA/Stable by CRISIL.
Ques. How much amount can be invested?
Ans. The minimum amount of investment is Rs. 10,000/- and thereafter additional deposit accepted in multiples of Rs. 1,000/-.
Ques. Who can place Deposit?
Ans. Deposit can be placed by Resident Individuals, HUF, Limited, Private Limited Companies, NRI, Co-operative Societies, and Association of Persons.
Ques. Does the company eligible to accept deposits from Trusts?
Ans. The Company is eligible to accept deposits from Trusts under Section 11(5) (ix) of the Income tax Act, 1961.
Ques. What are the Schemes available?
Ans. The deposits can be placed under both Cumulative and Non-Cumulative Option.
Ques. For what duration can the deposit be placed?
Ans. Deposits can be placed for duration of 1year, 18 months, 2 years, 3 years and 5 years. However the maximum term of deposit allowed for NRI is 3 years.
Ques. Can the deposits be placed jointly?
Ans. Deposits are accepted in joint names not exceeding three in number. However all communication will be addressed to the first name depositor and payment of interest and repayment of principal amount would be made to the first named depositor.
Ques. What is the duration of interest payment?
Ans. The interest is paid /compounded on annual basis. The payment of interest under cumulative Option will be compounded with annually rest. and will be paid at time of maturity. Under Non-Cumulative Option, interest will be paid annually i.e., on 31st March. The Interest is directly credited to bank account, if ECS option is opted.

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