Top-up loans mean the bank adds an additional amount to the borrower's existing home loan. Taking a top-up loan on an existing home loan is a better option, as they are easily available at a good interest rate.
The Senior Citizens Savings Scheme (SCSS) offers a regular stream of income and tax-saving benefits, with the highest of safety. Some of these offer personalized services along with higher interest rates for senior citizens.
The regulator has directed insurers to take additional steps for ensuring registration of all claims and also provide quick settlement of eligible cases, especially in the cyclone-hit areas of Odisha and neighboring states.