8.55%?

Overpass Walkway - Bangalore, India

Overpass Walkway – Bangalore, India

I was on the move again, mid-week during my stay in India. I was visiting another company located closer to the center of town. I’ve recently featured more photos shot from inside a car, than ever before. But, when you’re in a very different country, a lot of things, mundane to locals, seem interesting.

I shot this somewhere on route to my new hotel. The increase in trees means I was getting closer to the center of Bangalore. I’m sure when I created this photo, I was interested in the overpass walkway and the balance of the building with the trees and the leading lines formed by the road. But, as I looked through my catalog, what captured my curiosity was the interest rate advertisement.

8.55%? Wow, in the U.S., I thought I’m doing well at 2.75%. Looking at the fine print, I noticed that this is a special account for senior citizens. I did some googling. In India, seniors 60 years and older, get a higher rate of interest. I’m no economics expert, but I know that interest rates have a relationship to inflation and indeed India’s inflation rate is all over the place. Ranging from 2.5% to 12% over the last decade. Things are a lot steadier in the U.S., staying at or below 2%. I have no plans to put money in India, having FDIC guarantees mean a lot.

The thought of special deals for seniors also got me looking. In the U.S., I noticed many places have senior citizen discounts starting at age 55, which conveniently I’m going to hit in a little over a month. Too bad they don’t have senior discounts at Precision Camera or B&H Photo. Now that would be worthwhile.


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