Here’s How Investment In FDs May Simplify Your Retirement

senior citizen investment scheme

Are you above 60 years in India and looking to invest your hard-earned saving into a lucrative senior citizen investment scheme so that you can get amazing ROI?

You can count on a senior citizen fixed deposit scheme to provide you with a risk-free investment opportunity. Yes, compared to other investment options for senior citizens, the senior citizen fixed deposit is a feature-rich plan to benefit them.

Banks and non-banking finance companies (NBFCs) offer senior citizen fixed deposit schemes. But, when you must choose between them, you can go for the FD scheme of the non-banking finance company (NBFC) as they offer more interest in it.

Yes, investing in a leading fixed deposit plan of a non-banking finance company (NBFC) can help you reap 8.85% interest which is 0.35% more than others.

What’s more, another benefit putting your savings into a senior citizen fixed deposit scheme is that it is not risk-prone as some other investment schemes.

What is promised at the starting of your plan is given on maturity, and there is no impact of market situations on it. Unlike mutual funds, shares, and more, you can invest in an FD scheme and relax as you know you will get a sure-shot ROI.

Senior Citizen Fixed Deposit Scheme – Features and benefits

  • Highest Interest Rate of Up to 8.85%

If you are a senior citizen, you can get an attractive rate of interest of up to 8.85% which is 0.35% more than ordinary citizens. Like this, your investment will reap more profits at the end of the tenor than others.

  • You Can Start Investing With Only Rs.25,000

You need not put down a higher sum of investment to get started with the senior citizen investment scheme of the FD. If you have Rs.25,000, you are good to start your risk-free investment. You can also open many FD plans of Rs.25,000 together concerning each goal of your life and earn higher interest income on maturity.

  • Wider Tenor To Suit Your Needs

You have the freedom to stay invested for a period between 12 months to 60 months. The longer you are invested, the higher will be your interest in it. Thus, depending on for what you are investing, you can go for a duration that best suits you.

  • High Stability And Security

Prominent names in the non-banking finance companies (NBFCs) also keep your invested money super secure. The security of ICRA’s MAAA and CRISIL’s FAAA means that you can sit back and relax while your investment keeps growing.

  • Fixed Deposit Calculator Facility

You should not sit down for hours doing the sum about your probable profits at the end of the tenor of the FD plan manually. Lenders have the facility of the FD calculator on their websites which can let you know about your exact FD income. Once you enter the total investment amount and the tenor, the FD calculator will showcase an amount that you will get at the end of the tenor.

  • Online Account Access

You can track the progress of your senior citizen fixed deposit plan by accessing your FD account via the digital customer portal of the lender.

The Bottom Line

You are aware of how a company fixed deposit plan is one of the best investment options for senior citizens with so many amazing benefits. You can easily apply for a senior citizen fixed deposit plan online and save your time and efforts! Happy investment!

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