8% interest on FDs for senior citizens: Modi

normalisingNew Delhi, (IANS) Prime Minister Narendra Modi on Saturday said that the senior citizens of the country would get eight per cent interest rate on fixed deposits up to Rs 7.5 lakh.

“For senior citizens, we have decided that up to the amount of Rs 7.5 lakh in fixed deposits for 10 years, they would get the interest rate of eight per cent,” Modi said in his address to the nation of New Year’s Eve.

He also said that the amount earned in interest can be withdrawn on monthly basis too.

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