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3 Reasons You Need More Retirement Money!


Majority of working professionals keep aside some part of their income each month for retirement purposes, but it may not be enough to help your expenses when you retire. 

Although it’s a step in the right direction, it won’t help you cover your financial needs once you hang your boots and enter the golden period of life. Why? The cost of general commodities including increased health-care costs, savings won’t help you alone. Investing in an FD for retired person could be the prudent step, though!

In the same context, let’s provide you some inputs or reasons that would help you know why you would need more retirement money than expected!

1.     Higher Life Expectancy

Planning a retirement in the same capacity as your parents will no longer good for you because life expectancy has increased in India at least by 10 years! The average life expectancy was at 58 years in 1990 as of 2016 figure released by the World Statistics Report which rose to 69 years in 2015.

While having a good life expectancy is certainly a good sign, you need not finance the surplus years that you may spend as a retired person. Hence, you would need to invest in a more lucrative scheme such as an FD for retired person to survive the next 10 years easily.

2.     Forced Retirement

Planning to take a Voluntary retirement (VRS) or handed over a forced retirement? If you are going this way, a good way to begin planning early is by making good use of the provident fund. You can always use your PF as a retirement corpus. Instead of using your PF amount on maturity, a good thing that you can do is – putting it in a non-cumulative FD for retired person.

You would be able to get your funds multiplied with a senior citizen FD and get an interest payout as per your selected frequency. Leading lenders offer around 8.75% for senior citizens that can help you reap more out of your investments. Want to know how much you will earn while investing in a senior citizen fixed deposit? Use an FD calculator available free at a lender’s portal and enter your deposit amount and the tenor to know the exact ROI of your investment quickly.

3.     Post-Retirement Plans

During the course of your employment, you may not have got the time to develop or nourish your habit, travel the world and do as per wishes. Depending on what you wish to achieve during your free retirement days, you may need more funds to accomplish your goals.

FD for Retired Person – Some Quick Benefits

Investing in a scheme such as an FD for retired person can give plenty of benefits to cover your needs of more money such as:
     8.75% interest payout or ROI for senior citizens
     Higher credibility and stability
     Fixed or guaranteed returns
     Minimum deposit of only Rs.25,000
     FD calculator to help you know your exact FD profit after a tenor completion
     Online application process to save your time and provide hassle-free procedure
     Online account management to keep the progress of your investment easily

The Bottom Line

Now that you know why you would need more retirement money, it would be good to invest in a lucrative FD for retired person scheme and get enough funds to cover needs. If you are ready to invest right away, you can apply online and march your way ahead to a financially secured future! Good luck!

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