When it comes to safe investment options, fixed deposits remain a popular choice for many investors, especially for senior citizens who prefer capital safety over capital appreciation. For senior citizens, FDs are also their first investment choice as they work as a source of regular income for them. However, the low return rate has been a reason of concern for FD investors. Fixed deposit interest rates have been falling for over a year now with many banks reducing the rates after the Reserve Bank of India’s decision to keep the repo rate unchanged at a low of 4%.
Additionally, returns from FDs are fully taxable as per the investor’s income tax slab rate, which further brings down the actual rate of return. In such a situation, investors,
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