Why Fixed Deposits are the best investment tools for senior citizens
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Why Fixed Deposits are the best investment tools for senior citizens

  • Highlights

  • FDs as best sources of income for retired & senior citizens

  • Investing sum of your savings in safe & secure FD

  • Safest forms of investment for senior citizens

Senior citizens on the brink of retirement or those who have already retired invest in fixed deposits for their innumerable benefits. They offer increased security, and are the safest form of investment, which is suitable for senior citizens since it gives fixed returns in spite of ups and downs in the market.
Other forms of investment are often prone to market fluctuations, and while they can be a part of your investment portfolio, they shouldn’t be the only investment choice.

Advantages of investing in FDs for senior citizens

• FDs offer attractive interest returns and have been one of the most popular choices of Indian families across generations. The FD interest rate for senior citizens is usually higher, giving better returns.
• The interest can be used by seniors to fulfil responsibilities like household expenses, paying for grandchildren’s education and more.

• It is the most secure form of investment, which is safe from market fluctuation and provides steady or fixed returns.
• An FD can also be created with minimal deposits, and don’t require a large corpus. Usually, you can start a fixed deposit account with just Rs.25,000.
• FDs can be withdrawn early in case of emergency situations and are always available as a source of finance.
• Application for FDs are also not cumbersome, making it easier for senior citizens to sign up for an FD account. With online application and online management, FDs with companies like Bajaj Finance do not require senior citizens to travel to their office, instead allowing them to check their and receive the returns while sitting comfortably at home.
• Lastly, an FD can be used to take a loan in times of need, providing an additional avenues of funds.

Additional Read: 5 Reasons That Prove Fixed Deposits are The Best Form of Investment

How to use Bajaj Finance FD Calculator?

Consequences of not investing in FDS

• Other financial options may be high risk options, and not suitable for the retired investors.
• Financial sources like loans would be difficult for retired people to repay in absence of an income.

It is therefore best to include FDs as part of any senior citizen investment portfolio for fixed returns with any safety concerns.

Bajaj Finance offers highly secure and stable FDs with high interest to senior citizens with a host of benefits. To know how much you stand to again, you can use their FD Calculator to measure the returns.

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