Know the Right Time to Start Saving for Retirement
Retirement term deposit schemes like FD for senior citizen also come with the flexibility of tenor. With the best financial institutions, you have an option to choose a tenor between 12 months and 60 months as per your suitability.
For individuals over 60 years, the risk of health complication increases due to their advancement in age. It thus calls for the need to have access to funds in a lump sum amount that can meet any medical urgency. Fixed deposit schemes come with a maturity period or tenor of investment ranging between 7 days to 10 years, suitable for both short-term and long-term liquidity requirements while guaranteeing corpus growth over the term.
Investment schemes like FD for senior citizen come with interest earnings at a 0.35% higher rate than regular FDs. Add on the high returns offered by fixed deposits compared to other term deposits, such schemes for retirees a reasonable investment option. However, you must know where to invest for higher returns on your fixed deposit.
Consequently, individuals over 60 years of age can opt for an FD scheme courtesy the higher interest rates offered especially to them. If you choose a term of 1 to 2 years, you can successfully fulfil short term funding goals, while a long term allows you to create a substantial corpus through this investment option.
However, to save effectively for retirement planning, individuals must opt for potent investment tools like PPF, mutual funds, FD, recurring deposits, National Saving Certificate Scheme, etc.
Also Read: https://resultsinbusiness.net/spend-less-invest-more-secure-your-retirement-with-bajaj-finance-fd-schemes/
For individuals over 60 years, the risk of health complication increases due to their advancement in age. It thus calls for the need to have access to funds in a lump sum amount that can meet any medical urgency. Fixed deposit schemes come with a maturity period or tenor of investment ranging between 7 days to 10 years, suitable for both short-term and long-term liquidity requirements while guaranteeing corpus growth over the term.
Investment schemes like FD for senior citizen come with interest earnings at a 0.35% higher rate than regular FDs. Add on the high returns offered by fixed deposits compared to other term deposits, such schemes for retirees a reasonable investment option. However, you must know where to invest for higher returns on your fixed deposit.
Consequently, individuals over 60 years of age can opt for an FD scheme courtesy the higher interest rates offered especially to them. If you choose a term of 1 to 2 years, you can successfully fulfil short term funding goals, while a long term allows you to create a substantial corpus through this investment option.
However, to save effectively for retirement planning, individuals must opt for potent investment tools like PPF, mutual funds, FD, recurring deposits, National Saving Certificate Scheme, etc.
Also Read: https://resultsinbusiness.net/spend-less-invest-more-secure-your-retirement-with-bajaj-finance-fd-schemes/
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ReplyDelete(By the way, it has totally NOTHING to do with genetics or some secret-exercise and EVERYTHING around "HOW" they are eating.)
BTW, I said "HOW", and not "WHAT"...
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