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Top 2 Benefits of Fixed Deposits for Senior Citizens and Young People

Fixed Deposit can be a great tool to help people save for their future goals. It can earn high-interest rates, and the account is secure. It's a perfect option for the young and the senior citizens, who want to save money in a safe place so that they have something to fall back on when they need it.<br><br>For More Information Visit Here: https://www.pnbhousing.com/blog/why-fixed-deposit-is-best-investment-for-young-and-senior-citizen/

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Top 2 Benefits of Fixed Deposits for Senior Citizens and Young People

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  1. Top2BenefitsofFixedDepositsfor SeniorCitizensandYoungPeople

  2. DoyouknowwhataFixedDeposit is? Knowwhat itis FixedDepositcanbeagreattooltohelppeoplesavefortheir futuregoals.Itcanearnhigh-interestrates,andtheaccountis secure.It'saperfectoptionfortheyoungandthesenior citizens,whowanttosavemoneyinasafeplacesothatthey havesomethingtofallbackonwhentheyneedit.

  3. The following are the Top 2 Benefits of Fixed Depositsfor Seniorsand YoungPeople SecureInvestment TaxBenefits

  4. 1. Secure Investment Secure investment: Fixed deposits are one of the safest investment avenues available in India. The interest rates on these accounts are higher than what youwillgetonotherinstrumentslikesavings accounts or term deposits. Parents can choose to investinshort-termgoalsfortheirchildren,like theirhighereducation,marriage,andnewskill training.Thetenureofthefixeddepositalso dependsonwhenparentsneedtowithdrawthe maturityamount.

  5. 2. Tax Benefits Tax benefits: Senior citizens can claim tax deduction under section 80C of the Income Tax Act 1961 and also invest up to Rs 1 lakh under Section 80CCD without paying any tax on such investments. Senior citizenscanenjoyinterestontheirdepositsona monthly, quarterly, or annual basis. The FDs come with the option of auto-renewal, making it easy for seniorcitizenstocontinuereceiving theirincome withoutanyhassle.

  6. RefferalURL https://en.wikipedia.org/wiki/Loan https://www.pnbhousing.com/blog/why-fixed-deposit-is- best-investment-for-young-and-senior-citizen/

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