This initiative comes at a pivotal time when the financial security of the elderly is becoming increasingly important. According to a report by the Ministry of Statistics and Programme Implementation, the population of senior citizens in India is projected to grow from 138 million in 2021 to 194 million by 2031. Addressing this significant demographic shift, Shriram Finance’s fixed deposit plans offers a secure and stable investment avenue to senior citizens for safeguarding their financial future.
Additional Interest Rates for Greater Returns
Shriram Finance FD offers highly competitive interest rates up to 9.40%* p.a. (inclusive of 0.50%*p.a. for Senior Citizen and 0.10%*p.a. for Women Depositors). This is notably higher than most of the average interest rates offered by many other financial institutions, making this an attractive option for senior citizens who are looking to maximize their returns. Higher interest rates directly translate to more substantial earnings, ensuring a reliable income stream during retirement.
This story is from the July 14, 2024 edition of The Business Guardian.
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This story is from the July 14, 2024 edition of The Business Guardian.
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