The 21st of August is recognised as World Senior Citizens’ Day every year. The day is celebrated for senior citizens to honour their life’s journey and well-being, but in addition, to mark their enlightenment, awareness, and experience, financial freedom is a crucial factor in old age and should be taken into account to make their golden years more peaceful. Because they include guaranteed returns, fixed deposits are the most popular investment choice for older adults. However, in the current context of rising interest rates, fixed deposits have regained their former glory, and banks are rushing to raise fixed deposit rates as a result of the repo rate hike. Therefore, in honour of World Senior Citizens Day, here are 5 special fixed deposit plans for older adults that will allow them to earn higher interest rates.
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