Senior citizens mostly prefer Fixed Deposits to get a study income with high safety. It provides easy transactions and comes up with some additional benefits to senior citizens. Major benefits include high-interest rates and tax benefits. In addition, some of the basic benefits are –
Low risk: Fixed deposits are considered as the safest investment. They provide a promised interest and return at the time of maturity. This investment is not fluctuating or risky as mutual funds and other investment options. High stability: Senior citizens get the best stability of the return and safety of the invested funds. Funds can be liquidated at the time of an emergency and enjoy a constant rise in the funds. Attractive returns: People invest in FD to get a secured periodic return. This means that FD for senior citizens mostly pays off 50 paise more than the normal interest rate of FD. Thus, it provides more return for senior citizens. Periodic interest payable: We all know that FD for senior citizens provides high-interest rates. Along with this, interest on the FD can be selected as a periodic payment or at the time of maturity. The investor can easily select this and open the FD online and offline. In addition, senior citizens enjoy the tax on the interest earned. With all these benefits associated with the senior citizen FD, it is the best investment option to get a decent return at a certain period. Bajaj Finance provide best senior citizen FD option and see investment growing over time at a fast pace.
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About Author:Aman is working in the domain of Investment management in one of the top universities. He has published research papers and case studies in Investment and Fixed Deposit marketplace. He is an avid blogger in the domain of Investment management. you can also find him on social networking platforms. Archives
August 2022
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