Postal staff rejecting investment of settlement funds in Senior Citizen Savings Scheme thehindu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindu.com Daily Mail and Mail on Sunday newspapers.
Want to double your money? Checkout these post office schemes
Want to double your money? Checkout these post office schemes
Let s find out how much money you need to invest in these schemes, and how much time it will take for your money to get double. File Photo
Updated: Jul 3, 2021, 06:43 AM IST
Many are aware that the Central government has not changed the interest rates of small savings schemes for the September quarter. Notably, Post Office runs a lot of savings schemes, the best of which is that there is a guarantee from the government on it.
Today, let us tell you about all the important Post Office savings schemes. Let s find out how much money you need to invest in these schemes, and how much time it will take for your money to get double.
Should seniors go for special FD rates offered by some banks?
SBI, ICICI Bank and HDFC Bank offer more In May last year, a few banks came up with special rates on certain long-tenure fixed deposits for senior citizens, in a bid to protect them from the blow of falling interest rates. Under the SBI Wecare Deposit, ICICI Bank Golden Years FD and HDFC Bank’s Senior Citizen Care FD schemes, the banks offer an extra 25-30 basis points (bps) interest on deposits with tenures of 5 years and above. This is over and above the 50 bps higher interest usually offered to senior citizens. The special FD rates apply on fresh deposits as well as renewals.