Small savings postal services have now been extended to rural post offices to help people avoid long commutes to access these programs. According to a press release, postal savings banks only operated at main post offices, sub-offices and urban post offices. However, people in rural areas struggled to get to post offices in towns during […]
The senior savings plan was set up in 2004 with the aim of offering seniors a stable and secure source of income for their post-retirement. How to open a Seniors Savings account The Seniors Savings Plan (SCSS) is a government-funded savings plan for people over 60. The SCSS is a government-backed plan. Payment to the […]
Savings accounts are a popular and safe place for people to keep their extra money. They pay interest based on your balance, which can help your savings grow over time. Online banks are a particularly attractive option as they often pay higher interest rates than those offered by physical banks. One of the downsides of […]
SCSS: Interest on deposits under this scheme is announced by the government for each quarter in advance. All retired seniors struggle to meet both goals due to the double whammy of constant inflation accompanied by falling interest rates all around. Interest rates offered by banks on term deposits have fallen to around 6%. Although private […]