Published Paper Details:

Abstract: Fixed deposits allow investors to deposit their money for a specific period for a rate of interest, which is typically higher than what is offered for a savings bank account. Fixed Deposits are popular because of its easy liquidity, reliability and high returns. Senior Citizens, who are old age, retired Government Servant, mostly withdraw monthly pension from the State Bank of India, deposit a lump sum amount of Rupees 5 to 15 lakh there in FD for a fixed period and earn a steady income by way of interest. Recently, due to enormous interest declination in fixed deposit of the bank, particularly in SBI, Senior Citizens are faced in tremendous economic problem. A sampling survey was conducted along with such 100 respondents during the year 2019-20. Opinions and views of them relating to Fixed Deposit interest earnings were recorded. Interest rates are falling. RBI rate cuts are high due to concerns over economic growth and the prevailing low inflation. To protect the real FD interest income of senior citizens they have claim to gain at least 1% more differential interest than the general people for financial security and their imperative needs in old age.