The government of India has launched many special pension schemes for senior citizens to provide financial stability and security to them post-retirement. On, World Senior Citizens Day today (August 21), let’s take a look at some of the pension schemes for the elderly people. Atal Pension Yojana (APY) APY is a government-sponsored scheme that was …
Fixed deposits (FD) are often preferred investment options for senior citizens because they provide a higher interest rate and tax benefits. All the top lenders including the State Bank of India (SBI), ICICI Bank, HDFC Bank, and others give 50 basis points of interest to senior citizens over and above the general customers. Like, top …
Special fixed deposit (FD) schemes for senior citizens: Amid the Covid-19 pandemic in May 2020, many banks launched special fixed deposit (FD) schemes for senior citizens. This scheme offers higher interest rates to senior citizens who open FDs with a tenure of 5 years and more. The last date of the schemes has been revised …
World Senior Citizens Day 2023: August 21 is celebrated as National Senior Citizens Day to recognise the achievements of the elderly population of our society. In India, a senior citizen means a person who is 60 years, and above. On this Senior Citizens Day, let’s explore prudent investment options tailored for the elderly that prioritize …