Small savings interest rates: Seniors Spared

The Narendra Modi government has apparently decided to play safe and not risk a politically sensitive decision by reducing interest rates on small savings. On Monday, the government left the rates unchanged for the July to September 2016 quarter from what they were for the previous quarter. This marks a stark contrast to March quarter … Read more Small savings interest rates: Seniors Spared

How senior citizens should strategise insurance buying

Lifestyle changes with age and so does aspirations. In this case, you have to take a special review of your insurance portfolio, especially after 50 years of age. There are many people who buy different types of insurance policies during their young age. That’s good and it helps in developing a sizeable corpus along with … Read more How senior citizens should strategise insurance buying

Insurance Insight: All you need to know for senior citizens

By Yashish Dahiya Policybazaar.com Health insurance is more important for the elderly than the others, for the simple reason that, as age advances, one’s vulnerability to diseases and physical conditions increases. Thus, a medical emergency could result in severe financial crisis, unless covered under a comprehensive medical insurance policy. Adding to their apathy is the … Read more Insurance Insight: All you need to know for senior citizens

10 investment tips to lead a peaceful retired life

You may have spent a good part of your life earning hard so that you can lead a peaceful retired life. Yet, the investment challenges for a retired individual remains aplenty. Diminished income flow and steady rise in price of essentials, higher medical needs and lower risk taking ability all add to the challenges. To … Read more 10 investment tips to lead a peaceful retired life

RBI reduces interest rate on Senior Citizens Savings Scheme

The Reserve Bank of India (RBI) today notified 0.1 per cent reduction each in the interest rates on Public Provident Fund (PPF) and Senior Citizen Savings Scheme (SCSS) to be effective from fiscal beginning April 1, 2013. The rate of interest on PPF has been lowered from 8.8 per cent to 8.7 per cent with … Read more RBI reduces interest rate on Senior Citizens Savings Scheme

Beware of the yield claims on tax-saving products

It’s the tax-saving season and one of the popular tax-saving instruments – the five-year tax-saving bank deposit – is being promoted by banks. A major public sector bank has been prominently advertising its five-year tax-saving deposit, stating yields of 16.64 per cent pre-tax, for regular investors and 17.39 per cent for senior citizens. The rates … Read more Beware of the yield claims on tax-saving products

Liquids funds – A supplement to your savings bank account

Have you been idling large sums in your savings bank account just to provide for any unforeseen need? If so, you could still have managed 5-6 percentage points more by setting aside at least a part of your money in liquid funds and still have liquidity. Yes, liquid funds, offered by mutual fund houses invest … Read more Liquids funds – A supplement to your savings bank account

Income tax savings through senior citizen parents

In an interview to CNBC-TV18, Subash Lakhotia, Tax & Investment Consultant shared his reading and outlook on tax exemption limits for senior citizens. Talking on the subject, he says since the basic income tax exemption for a 60-year plus and 80-year plus senior citizen is Rs 2.5 lakh and Rs 5 lakh respectively, it is … Read more Income tax savings through senior citizen parents