Recently, the Monetary Policy Committee cut the repo rate by 0.25%, the fourth rate cut this year.
A reduction in repo rate will have a direct impact on FD returns. There is a possibility that the bank FD interest rate will decrease. Investors' earnings may also decrease.
In such a situation, small savings schemes are becoming a better option for people with low FD returns. It offers an opportunity to earn more than 7%.
The interest rate is revised every three months. Now is the right time to invest and reap attractive returns.
Post office schemes are 100% guaranteed by the government. It is a more reliable and secure option than banks.
Post office schemes are 100% guaranteed by the government. It is a more reliable and secure option than banks.
The Senior Citizen Scheme, meanwhile, offers an attractive return of 8.2% for those aged 60+, significantly better than many banks.
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