As the new year 2023 begins, it is the right time for senior citizens to plan their investments and choose tax saving FDs to make the most of the rising interest rates on deposits.
Senior Citizens Tax Saving FD: Rising interest rates have created confidence among senior citizens to go back to their traditional investment strategy and invest their money in fixed deposits. After the RBI Repo Rate Hike , many banks have increased their FD interest rates . Because of which the interest rates of senior citizens have become very high.
As the new year 2023 begins, it is the right time for senior citizens to plan their investments and choose tax saving FDs to make the most of the rising interest rates on deposits. Lending may become more expensive in the coming times and banks may want to entice investors to keep their money with them to increase their cash flow.
Starting a tax-saving FD teaches a very important lesson, that is to save more. Saving a penny is earning money. This is a general rule, and it works well for senior citizens as well. Here are some of the salient features of tax saving senior citizen FD.
