In light of the current interest rate environment, investors can benefit from higher rates while reducing risks related to market swings by investing in a variety of debt products.
The two most well-liked government-backed initiatives for elderly adults during the prevailing interest rate regime are the Senior Citizen Savings Scheme (SCSS) and Pradhan Mantri Vaya Vandana Yojana (PMVVY).
But so far, two small finance banks are providing the highest FD rate in the nation. For deposits with a 700-day tenor, Utkarsh Small Finance Bank (SFB) is now giving a maximum interest rate of 8.25% for the general public and 9.00% for elderly individuals.