The time after retirement is meant to be enjoyed as this is actually the best time where senior citizens are free of any obligations. Unfortunately, this may not be true for individuals who do not spend adequate time saving for the golden years of their lives.


Today, there are various investment options which help to put aside your savings for the years of your life you won’t be working. One of the them is Fixed deposit. A highly popular and reliable saving scheme which offers a host of benefits to investors. Let’s take a look at them -

Senior citizens can book the Fixed deposit with additional interest rate of 0.35% on the base rate. Especially, when they book the deposit at leading lenders like NBFCs. These are reputable and experienced lenders which offer higher rate of interest starting from 8.50% onward. Upon renewal, depositors can enjoy top up rate of 0.25%.



Rated high on safety and stability with ICRA’s MAAA (stable) rating and CRISIL’s FAAA/ stable rating, they ensure that your investments are never at risk. Besides, being free from market fluctuations they offer assured return on the fixed lump sum. With time, they help to gradually accumulate wealth and grow their corpus.


With a minimum deposit of just Rs. 25,000 depositors can book the fixed either in their name or for anyone in their family. Return up to Rs. 10,000 is tax free. While, depositors can get tax exemption on amount of Rs. 10,000 or more by submitting Form 15G and Form 15H to their lender.