Falling FD rates set to hit 4 cr sr citizens hard ...Middle East

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Falling FD rates set to hit 4 cr sr citizens hard
On Wednesday, SBI cut the FD rates for senior citizens for 1-2 years bracket to 6.9% from 7% while savings bank rate was cut to 3.25% from 3.5% for deposits of up to Rs 1 lakh. In such a scenario, say financial planners, senior citizens will have to take some risks and invest in marked-to-market products like debt funds.

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