How did you feel when you first found that being a senior citizen has some great benefits? While traveling, you're given the most comfortable seat. You can book free airport assistance while flying and you don’t have to do any heavy lifting – in fact you zoom through all the airport formalities and checks! Also, your needs are given priority in several institutions like banks.
Yet, you might still be unaware of benefits, financial and otherwise, which citizens above 60 years of age can reap. Don't believe us? Here are a few more perks of aging that you need to be aware of:
Note that concessional rates and tax limits keep changing every year. Please consult your tax advisor for more information.
Most banks do offer loans to older adults, especially to those with pension accounts. Many perks such as lower processing fees, reduced rate of interest, etc. are provided. The reverse mortgage scheme too is becoming quite popular among citizens above 60. Under this arrangement, citizens can mortgage their encumbrance-free property against a periodic payment from the bank.
If your work always kept you busy and never gave you the opportunity to explore new places, now is the time. If you need motivation, there are some travel-friendly perks - reserved seats and discounts.
Age is just a number, but if it earns you a perk or two, it is a really great number you’ve got! Go ahead, enjoy, and do not miss out these privileges.
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