Savings scheme

Seniors Savings Plan | Five investment plans for seniors with regular income

Five investment plans for seniors with regular income | Photo credit: BCCL New Delhi: Due to the onslaught of the Covid-19 pandemic, central banks around the world have been pushing to cut interest rates to avoid liquidity pressures. While lower interest rates can be a tonic for a struggling economy, they can negatively impact seniors […]

Savings scheme

PPF, the interest rates of other small savings plans remained stable for the September quarter. Details here

In a huge relief for small investors, the Center has kept interest rates on small savings plans, including NSC and PPF, unchanged for the second quarter of 2021-2022 amid the ongoing coronavirus pandemic. This is the fifth quarter (ending September 30, 2021) in a row that the Ministry of Finance is maintaining the interest rate […]

Savings scheme

Who gave the green light to “inadvertently” reduced small savings plan rates? Nirmala Sitharaman herself

On March 31, the Ministry of Finance announced that interest rates on small savings plans would be reduced to 1.1% for the first quarter of 2020-2021. The very next day, presumably fearing a reaction from public opinion, Finance Minister Nirmala Sitharaman withdrew the order, tweeting that it had been “inadvertently issued”. But who was responsible? […]

Savings scheme

Savings scheme for seniors I Options for seniors as FDs lose their luster with negative real interest rate

Options for Seniors as FD Loses its Luster with Negative Real Interest Rate | Photo credit: Thinkstock In an age when interest rates on fixed income assets are at historically low levels, investors, especially those who depend on interest income, are being left behind. On top of that, rising inflation levels reduce the meager returns […]

Savings scheme

BIG RETURN! PPF, NSC, Sukanya Samriddhi, COUPE Seniors Savings Program Interest Rate; see the new prices here

Small Savings Plans new interest rates: In a major setback to ordinary man’s savings goals, the government cut interest rates on small savings plans. This was notified by the finance ministry in a circular on Wednesday. This drop in interest rates will apply to the main savings plans, in particular PPF, NSC, Sukanya Samriddhi, Senior […]

Savings scheme

Interest rates on PPF, NSC, Sukanya Samriddhi and Savings Plan for Seniors have been reduced. Details here

The Ministry of Finance announced Wednesday a drop in interest rates for small savings plans. According to the ministry circular dated March 31, interest rates on small savings have been reduced by 50-100 basis points for the April-June quarter of fiscal year 2021-22. The interest rates for small savings plans are reviewed and communicated by […]

Savings scheme

Tax savings for seniors | Savings Plan for Seniors vs PMVVY: Knowing the Best Investment Option for You

Savings Plan for Seniors vs PMVVY: Knowing the Best Investment Option for You New Delhi: Seniors have become the biggest victim of this drop in repo rates as FD bank rates have fallen. As seniors mainly depend on their own income, their income has dropped by up to 30% over the past year, making it […]

Savings scheme

CPF Matching Retirement Savings Plan: Who Is Eligible and How It Works, Money News

Reloading your parents’ CPF Retirement Account has long been a way of providing financial support to members of your family. Now you might be able to get money from the government when you do. The CPF Matching retirement savings plan (MRSS) is a new device that will run over five years, from 2021 to 2025. […]

Savings scheme

PPF, other small savings rates unchanged. Check out the latest prices here

The government today kept the interest rates on small savings plans, including that of the Public Provident Fund or PPF, unchanged for the January-March quarter. The interest rates for small savings plans are revised quarterly. The interest rates of the various small savings plans for the fourth quarter 2020-2021, from January 1 and ending on […]

Savings scheme

Government-supported alternatives to the small savings plan

The government has kept the interest rates of the Small Savings Plans unchanged for the next quarter. Between January and March, interest rates will remain unchanged. In today’s interest rate environment, small savings plans are the best option for conservative investors who do not invest in stocks and wish to invest in government guaranteed products. […]

Savings scheme

From PPF to Sukanya Samriddhi Yojana, this is what the programs offer you

Postal savings: Besides delivering mail and offering a wide range of financial services, India Post offers a number of popular investment options and can be opened easily at any nearby post office with a minimum of Rs 1,000. Read also: Double your money with small savings programs like Kisan Vikas Patra For investors, India Post […]

Savings scheme

How to open a Seniors Savings Account

The Seniors Savings Plan (SCSS) is a government-backed plan that offers seniors a great way to invest a portion of their retirement corpus and earn quarterly interest. Security of capital and assured periodic returns play a key role in choosing an investment program, especially in the case of the elderly. This scheme, which offers guaranteed […]

Savings scheme

Seniors Savings Plan 2020: all you need to know

To get the best return while building wealth, you need to combine both high risk and high return funds as well as low risk and fixed return investment options. People over the age of 60 and looking for places to keep their savings safe after retirement while earning a moderate rate of return, typically land […]

Savings scheme

Best investment options for seniors: Senior Citizen Savings Scheme (SCSS), Fixed Deposit to GoI Bonds during COVID19

The financial lives of older people have been affected by the coronavirus outbreak and the lockdown that followed, as they typically manage their investments through visits to banks or post offices. Best investment options for seniors during the coronavirus pandemic: The financial lives of older people have been affected by the coronavirus outbreak and the […]

Savings scheme

Post Office Elderly Savings Scheme Against State Bank of India Fixed Deposit (FD) Interest Rate

Elderly Savings Program (SCSS) offered by India Post or Post Department and State Bank of India (SBI) Elderly Fixed Deposit Accounts (FD) are some of the investment options available for the elderly. The Senior Savings Plan (SCSS) can be opened by a natural person aged 60 or over. A person aged 55 or over but […]