Financial Literacy News: Senior citizens generally get a slightly better interest rate on bank fixed deposits (FDs) compared to other investors. Similarly, the government has special programs for them, like the Senior Citizens Savings Scheme (SCSS).
Some banks offer higher interest rates on Fixed Deposits (FDs) compared to Sukanya Samriddhi Yojana (SSY), making FDs more appealing for investors seeking fixed returns
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According to the experts investors must keep their exposure limited in FDs of small finance banks so that it will fall within the purview of DICGC cover of Rs 5 lakh rs including principal and interest.
Financial Literacy News: Small finance banks provide great interest rates on fixed deposits (FDs), with some going as high as 9%. If you're looking for top rates, you might want to invest soon, as rates could go down later. Before you invest, check out the best FD rates from small finance banks. Remember, these rates apply to deposits up to Rs 2 crore.