Yes, as a senior citizen, you can enjoy multiple benefits from investing Rs. 5 Lakh in a FD scheme, including:
- You get assured returns at a fixed rate of interest
- There is zero risk of loss as the returns are not market-linked, and you get the full principal amount plus the accrued interest on maturity
- You have the flexibility to choose the investment period. You can invest for a maximum of 5 years
- You get an additional 0.25% interest than the interest offered to other investors, meaning you get higher returns and you can accomplish all your financial goals
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