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Banking Interest Rate for Senior Citizens

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Category - Senior Citizen Money and Taxes

Post demonetization, in order to protect senior citizens from any decline in interest rates, Prime Minister Narendra Modi announced that senior citizens will get a fixed 8 per cent return on 10-year bank deposits of up to Rs 7.5 lakh.

Senior citizens (60 years and above) will get monthly interest under this scheme


Posted on 17-Jan-2017
do all banks offer this interest rate or it it limited only to govt / public sector banks

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