The Nifty and the Sensex opened the day on a
Join us as we follow the top business news through the day.
‘Bond’ with the best to stay ahead of inflation
These are difficult days for the Indian middle and lower middle class, especially senior citizens who do not have a regular pension. Most who have not worked for either the Central or State governments or public sector units are unlikely to be receiving pension benefits indexed to their last-drawn salaries and inflation. Instead, these senior citizens depend on income derived as interest from fixed deposits in scheduled banks.
While HDFC Bank offers 4.9% for regular depositors and 5.4% for senior citizens on fixed deposits of maturities of 1 year to 2 years, respectively, SBI offers 5% and 5.50%, for the same tenors, for the respective categories.
Crime Today News | Business