Tue, Apr 16, 2024
Fixed deposit (FD) is a scheme run by post office as well as banks, small finance banks, and non-banking finance companies (NBFCs). Investors keen on non-market-linked investment products invest in FDs since they provide guaranteed returns. Like many other banks, State Bank of India (SBI) also provides additional interest rates to senior citizens on most of its FDs.
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Sun, Jan 07, 2024
Banks offer slightly higher interest rates on fixed deposits (FDs) to senior citizens compared to non-senior citizens. FDs are popular among senior citizens since in old age, they need income from investment options which can give them guaranteed returns and fixed income. Since FDs are not market-linked, senior citizens opt them as they are risk-free investment options. In this write-up, know about the banks offering the highest interest rate to senior citizens on FDs.
Mon, Sep 18, 2023
Senior Citizens' Savings Scheme (SCSS) and bank FDs are preferred investment instruments for postretirement financial security. Most of the banks offer higher interest rates on FDs to senior citizens compared to other customers.
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