Is a retirement community just a fancy name for an old-age home? With the population of citizens over the age of 60 in India crossing 10% of the total population (approximately 150 crore), and the number expected to grow in the coming decades, conversations about retirement communities are common. The Hindu set out to find…
The Senior Citizens Savings Scheme (SCSS) is a government-backed savings initiative tailored for senior citizens to ensure a secure and regular income post-retirement. With guaranteed returns, tax benefits, and a straightforward process, it is one of the most reliable financial tools available for retired individuals in India. This scheme is available through Post Offices and…
As the countdown to the budget for 2025-26 enters its final phase, it is about time individual taxpayers got a look-in from finance minister Nirmala Sitharaman. They are yet to receive the kind of largesse given by her to corporates in 2019, when the rate of corporate income tax was cut from 30% to 22%….
This financial tool offers a unique solution for elderly homeowners who may have significant home equity but few liquid assets. However, it also presents challenges and potential pitfalls that must be carefully considered before diving in. Let us explore the concept of reverse mortgages, their potential benefits and downsides in the context of the Indian…
Several banks have offered higher interest rates to encourage more people to save money in fixed deposits. Recently, IDBI Bank has hiked its fixed deposit interest rates for selected tenures under the Utsav Fixed Deposit scheme. IDBI Bank is providing interest rates up to 7.85% on fixed deposits for select tenures. This Fixed Deposit scheme…
