The five-year Senior Citizen Savings post office scheme scores well on returns

Senior citizens who rely mostly on interest income on their deposits to fund their living expenses have been hit hard. Rates on bank fixed deposits have plummeted over 2 percentage points over the past two years. But that’s not all. In a first since 2011, SBI recently cut rate on savings deposits by 50 basis points. Others have followed suit. Adding to the heartburn of retirees is the sharp fall i...