As human beings, it is our responsibility to plan our future. It is required for our easygoing old age. After retirement, what we will do, what savings we should do for it, everything should be pre-planned because those who don’t plan their retirement face financial issues. Senior citizens are our ideal. Even our parents are getting old or already old, so you must choose savings schemes similar to senior citizen FD rates. Choosing the best senior citizen Fixed Deposit (FD) scheme is necessary for better returns. It helps senior citizens in their old age by attracting interest. Understanding the FD schemes for senior citizens is important to choose the best one. What is the Senior Citizen Fixed Deposit Scheme? Senior citizen FD is a financial plan for people who have crossed the age of 60 or above 60 years. It offers financial benefits for senior citizens. This financial plan offers special interest rates for senior citizens who are 60 years old or above. Apart from attractive interest rates, it also offers additional benefits to senior citizens. Senior citizen FD rates start from 3.0% and go up to 8.50% for tenures less than one year or more than five years. They can get an income source through a regular interest rate after their retirement. Even senior citizens can also avail of loan benefits against FDs. Benefits of the Senior Citizen Fixed Deposit Scheme Taking a senior citizen FD for people 60 or older is required for better retirement plans. It offers many benefits, such as attractive senior citizen FD rates. So, let’s explore the top benefits of the senior citizen FD scheme here: 1.Higher Interest Rates Senior citizen FDs offer higher interest rates, especially for senior citizens to secure their post-retirement life. The best FD interest rates for senior citizens start from 3.0% and go up to 8.50%, which is quite high. 2.Fixed Return After taking a senior citizen FD plan, you don’t need to worry about returns. There is a fixed return policy irrespective of the market situation, one of the best features of senior citizen FD schemes today. 3.Safe Investment Process Choosing the senior citizen FD scheme is one of the best and most secure investment processes for people who are 60 years old or above. As per RBI guidelines, you will get the surety of your invested money’s safety. 4.Periodic Interest Rate Payment Process Choosing the senior citizen FD rate offers the benefits of a periodic interest rate payment process. You can select the monthly, half-yearly, and yearly interest rate payment frequency in your scheme. 5.Easy Booking Process To book your senior citizen FD scheme, you can use many ways. You can book it via net banking. You can personally visit the bank branch, and they will assist you in each step of the procedure. You can get proper assistance from bank managers if you need bank accounts. 6.Extra Benefits for Senior Citizen People When you book a senior citizen FD, you get additional benefits, such as taking other FDs, premature withdrawal, loan facilities, and nominee details. […]
