Senior Citizen Investment Option: Senior citizens have these 5 great investment options in India, know

Senior Citizen Investment Option: After retirement, senior citizens should be careful about how they invest their money.

Senior Citizen Investment Option:

If you are thinking of investing after retirement, then these 5 options can be good for you. Because in these schemes you get higher returns with better interest rate. After retirement, senior citizens should be careful about how they invest their money. So that the money deposited by them should be able to provide them financial security during your retirement years, as you have specific needs and goals.

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Jyeshtha Nagrik Sahat Yojana

The Senior Citizen Assistance Scheme is designed for persons of 60 years of age and above. It is a safe investment option, offering attractive interest rates, guaranteed returns, fixed quarterly payouts and a tenor of five years. Each senior citizen can invest up to Rs 30 lakh in this savings scheme.

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Fixed Deposit

FDs are a popular option because of their reliability, stable returns and liquidity. Banks and post offices offer FDs for senior citizens with relatively higher interest rates. So that they can get good profit.

Pradhan Mantri Vaya Vandana Yojana

Pradhan Mantri Vaya Vandana Yojana is a government sponsored insurance cum pension scheme for senior citizens. It is offered by LIC. The scheme offers guaranteed returns and regular monthly income for 10 years to senior citizens, though it is currently closed to new customers.

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Mutual Funds

Senior citizens can also invest in debt-oriented mutual funds or hybrid mutual funds for higher returns. They invest primarily in fixed income instruments and provide regular income with potential for capital growth.

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Post Office Monthly Savings Scheme

Post Office Monthly Savings Scheme (MIS) is offered by the Department of Posts to the general public and provides assured monthly income to the investors. The maturity period of the scheme is 5 years and the interest rates are revised every three months.

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