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Aman Khanna

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Get Regular Income After Retirement


According to the recent data given by the World Bank, the life expectancy in India has increased from 53-54 years to 67-80 years. With the increased life expectancy, it has become essential to plan your life after retirement accordingly. Though many people would have their pensions, with the increased cost of living, 20-25 years of expenses post-retirement can be beyond the budget.

Get Regular Income After Retirement

Your need for regular income cannot be defined as a particular sum because of the uncertainties that always come as a surprise. Some traditional investment options for individuals post retirement include Fixed Deposit (FD) for Senior Citizen, SCSS (Senior Citizen Savings Scheme), and NSC (National Savings Certificate). Out of these schemes, FD for Senior Citizen is the most preferred due to the high-income benefits and interest rates.

Why Do Senior Citizens Need Regular Income?

In order to enjoy this period in your life peacefully, you would need a steady flow of cash. Following are the reasons why senior citizens need regular income:

  • To grow the savings that they have from their previously earned income and investments
  • They can be financially independent post retirement
  • They can invest their money in building an asset for their children or grandchildren.
  • They can use the money in case of any medical emergencies 
  • They can use the money to fund interests and hobbies that they might want to pursue

Benefits of Senior Citizen FD

Attractive Interest Rates

NBFCs (Non-banking Financial Companies) like Bajaj Finance offer 9.10% interest rates on senior citizen FD (the traditional FD interest rates are 8.75%).

Secure Investments

Investing in Fixed Deposits is an extremely secure way of going about your investments. You get an online as well as an offline copy of the FD receipt. You can also keep track of your investments using the online FD calculator provided on the website of your financial provider. 

Guaranteed Returns

Bajaj Finance offers guaranteed returns on your investment without getting altered by the rise and fall of market value.

Flexible Tenor

The applicant of the senior citizen FD can choose the policy tenor which can range from 7 days to 10 years.

Flexible Interest Payout

You can choose to receive your interest payout monthly, quarterly, yearly or at the time of maturity.


The income of a senior citizen (60 years or more) is exempted from tax payment up to a limit of Rs 2.5 lakh). The limit is increased to Rs 5 lakh for super senior citizens (80 years or more).

Easy Availability

You can easily apply online for an FD without any hassle. Most financial companies will also provide you with an online account management portal to track your Fixed Deposit account.


You can withdraw partial money from the FD in case of emergencies. The remaining money will get the same rate of interest as the whole sum.

Automatic Renewal

Recently, the financial provider has got the facility of automatic renewal of the FD when the tenor ends. If the person wants to close the account, he is free to withdraw the principal and the interest accumulated from their investments.

During the prime years of our life, we are busy earning money and fulfilling many responsibilities. After retirement, we finally decide to spend more time with our family and friends.