The Indian Prime Minister, Shri Narendra Modi, made an important announcement after the demonetization on December 31, 2016, a clock before the start of the new year. In this announcement, Modi Ji talks about introducing many new diagrams.
One of them is 8% for higher residents with Rs 7.5 lakh for 10 years. Modi Ji not only said about the new program but also made important announcements about the old scheme. The sole purpose of this regime is to take such measures to protect its elders and income.
Fixed interest rate schemes 8% for senior citizens by Modi JI –
Prime Minister Shri Narendra Modi spoke to the state on November 8, 2016 to ban 500 and 1000 files, which he described as a big platform to check diversions without warning. This is his initiative against corruption. The last date for submission of files of 500 and 1000 is December 31. On canceled tickets, 86% cash is running. After quashing the files, a core of Rs 14 lakh was filed in a bank, and new papers, worth Rs 6 lakh crore, were exploited. After several raids, over Rs 3000 was seized, which was not announced.
Finance Minister Arun Jaitley said that there had been an increase in tax collection and income. As the next step in the war against corruption, the prime minister sent the economy without any cash, and the government also made several announcements encouraging digital payments. So he also launched the application. After that, on December 31, 2016, the last date for depositing 500 and 1000 records, people await the announcement of the next historic prime minister. In this announcement, the Prime Minister announced several new projects and called for the schedule that was created. Read here, Narendra Modi’s journey to become the Prime Minister.
Given the interest rate set by the Bank of India Reserve, the deposit rate has come down recently, and most of the money has been provided to the financial system. Considering demonetization, banks have fewer credit and adoption deposits; the bank can drop the interest rate additionally.
Banks often lower their deposit rates when they receive a significant amount. It should not affect the elderly; that’s why Prime Minister Shri Narendra Modi Ji tells this program. Helping the high residents in his speech, the Prime Minister announced that an 8% interest rate would be guaranteed in deposits up to Rs 7.5 lakh. In addition, special interest provisions for the elderly will apply for 10 years, and the interest will be paid monthly.
8 Fixed Interest Rates:
Modi ji has made a historic announcement that the interest rate will be set at 8% for the elderly to collect up to 7.5 lakhs. This is a relief for many, as the rates have come down quickly due to the performance.
Deposits should be made for a period of up to 10 years. Although the key to the period is key, Prime Minister Shri Narendra Modi gave a charming gift to those who follow him. Unlike the normal rules for paying interest, elders can now withdraw the interest, which leads to a permanent deposit each month before the end of the tenure. In short, after this announcement, the deposit will always be switched to the monthly income regime.
Flowers come in a month.
For example, if you deposit the amount in this scheme, which is Rs 7.5 lakh, you will get flowers.
Interest Income Per Month = (8% off 7.5 Lakh)/12
Rs 5,000 = (Rs 60,000)/12
Thus, with a depot of Rs 7.5 lakh for 10 years, you will get 60,000 flowers in 10 years, which can be removed monthly with a level of Rs 5,000 per month.
That way, you’re interested in a month.
Assistance from this plan:
Monthly income, whether regular or daily, always helps meet the needs or requests. Earlier, once the money was paid in the permanent deposit, the only way to recover the money (including interest) was at the end of the permanent deposit period. This means the money is sealed for a fixed period and cannot be used for any eventuality. It will no longer be a money investment but a monthly income flow.
Main Points of Yojana senior citizens:
Some of the salient features of this planning process are as follows.
The Prime Minister said that interest rates should be guaranteed to protect the revenue of the elderly.This special level for the elderly will be implemented for 10 years.The bank has reduced interest rates on deposits in recent years.
The Bank of India Reserve has reduced the repo and prime lending rates by 175 basis points since 2015. At the same time, the bank has been in the past to sharply reduce the deposit rate. The reduction in interest income hurts the revenue of the elderly. Because they mainly depend on interest. The interest from deposits in the bank is their biggest source of income.
Currently, the country’s largest bank offers an interest rate of 6.5% for detailed depositors with a time frame between 5 and 10 years. And pay an interest rate of 7% for the elderly. The Modi government has made several changes in the 2018 budget, where the program will now be till March 31, 2020. In the diagram, this range has become from 7.5 to 15 lakhs.
