Sat, 13 May 2023

Senior Citizen Benefits: 7 Financial Tips For Elders In India

Senior citizens in India are entitled to higher interest rates on deposits compared to other residents.

Banks offer doorstep banking services to make banking easier for seniors.

Tax benefits

People over 65 years old can enjoy tax benefits, such as increased exemptions and lower tax rates.

Pension schemes can provide seniors with a stable income to cover daily expenses.

Health insurance

Health insurance plans can provide full coverage and financial support during medical emergencies.

State transport agencies offer discounted fares for elderly passengers.

Some states in India exempt senior citizens from paying property tax.

These benefits can help seniors save money and improve their financial situation.

Seniors should take advantage of these benefits and make informed financial decisions.