Senior Citizen 8 Fixed Interest Rate Yojana Scheme. One of them is the interest rate for senior residents with RS 7.5 Lakh for 10 years is 8%. Modi Ji not only said about the new scheme but also made some important announcements about the old scheme. The only purpose of this scheme is to make such steps to protect their senior citizens and income.
Considering the demonization, with banks -banks dispose of weak credit deposits and offtakes, there is a possibility of further decline in the deposit interest rate at the bank. Fixed interest rate schemes 8% for senior citizens by Modi JI.
What is Yojana Scheme?
Prime Minister Shri Narendra Modi spoke to the state on November 8, 2016, banning 500 and 1000 records, which he announced without warning as a big step to examine tax embezzlement. This is his initiative against corruption. The last date to deposit 500 and 1000 records is December 31.
Minister of Finance Arun Jaitley said that tax collection and income had increased. As a next step in the war against corruption, the Prime Minister transmitted to the economy without cash, and the government also made several announcements encouraging digital payments. Therefore, he also launched the application.
How to get Yojana Scheme very easily
After this, on December 31, 2016, the last date to deposit 500 and 1000 records, people are waiting for the announcement of the following historic prime minister. In this announcement, the Prime Minister said about many new schemes and asked for a method that had occurred. Read Narendra Modi’s trip to become Prime Minister here.
Banks often reduce their deposit rates when they receive a large amount of money. This should not influence senior citizens, so Prime Minister Shri Narendra Modi Ji tells about this scheme.
8 Fixed Interest Rates:
Modi JI made one of the historic announcements that the interest rate would be set at 8% for senior citizens who deposited up to 7.5 lakh. This is a relief for many people because the rates drop sharply due to the demonstration.
Deposits must be made for a period of up to 10 years. Although somewhat hard from the key ‘perspective of the key in the period’, Prime Minister Shri Narendra Modi has attached an attractive gift to those who follow him.
Flowers were obtained in a month.
Contrary to standard interest payment rules, senior citizens can now withdraw interest, resulting in a permanent deposit every month before the end of a permanent term. In short, after this announcement, the deposit will still be effectively converted into a monthly income scheme.
For example, if you deposit as much as permitted in this scheme, which is 7.5 Lakh Rupees, then you will get flowers-
Interest Income Per Month = (8% off 7.5 Lakh)/12
Rs 5,000 = (Rs 60,000)/12
Assistance from this plan:
The Bank of India Reserve has cut the repo tariff and the primary loan rate by 175 basis points since 2015. Best Online Business Ideas At the same time, the bank has sharply cut the deposit rate. Decreased interest income damage the income of senior citizens. Because they mainly depend on interest. Interest received from deposits at the bank is their most significant source of income.
Main Points of Yojana senior citizens:
Some of the prominent features of this planning process are as follows-
The Prime Minister said that interest rates must be guaranteed to protect the income of senior citizens.
For senior citizens, this superior level will be implemented for ten years. The bank has cut deposit interest rates in recent years.
Currently, the State Bank of India, the largest bank in the country, offers a 6.5% interest rate for retail depositors at permanent deposits with maturity between 5 years and ten years. Senior Citizen 8 Fixed Interest Rate Yojana Scheme And pay 7% interest rate for senior citizens. The Modi government has made several changes in the 2018 budget, where this scheme will now operate until March 31, 2020. In the method, the limit has doubled from 7.5 to 15 Lac.