Senior Citizen Investment: For senior citizens, money saved in old age becomes a lifeline. Saving is very important in old age. This saved money helps the elderly in their old age. In such a situation, let us know about some investment options in which people from the category of senior citizens can invest.
Saving for old age is very important for everyone who falls under the category of senior citizens . This saved money helps the elderly in their old age. In such a situation, let us know about some investment options in which people from the category of senior citizens can invest.
Senior Citizen Savings Scheme (SCSS)
The Senior Citizen Savings Scheme (SCSS) is run by the government for senior citizens. This scheme offers very attractive interest rate and also offers very good returns. It is also a very safe investment option. In this you get the benefit of investment government security. You also get tax benefits in the plan. In which a maximum of 30 lakh rupees can be deposited. Currently, the scheme is offering an interest rate of 8.2 percent per annum.
Fixed Deposit
Even today, most people rely on fixed deposit schemes for investment. The main reason for this is that your money is completely safe in these schemes, apart from this almost every bank is now offering the benefit of very good interest rate on FD to its customers. Apart from this, senior citizens get higher interest benefits than general customers.
Pradhan Mantri Vaya Vandana Yojana
Pradhan Mantri Vaya Vandana Yojana (PMVVY) is an insurance linked pension scheme administered by the government. The scheme is being run by LIC. This scheme provides guaranteed and regular monthly income for a period of 10 years.
Mutual fund
Senior citizens can invest in debt oriented mutual funds or hybrid funds. Senior citizens can only invest in fixed income instruments. In this, they get regular monthly income with capital growth potential. However, you should also be aware of market risks while investing in mutual funds.
Post Office Monthly Income Scheme
The scheme is being run by the Post Office. The most special thing about this scheme is that the investors get the benefit of earnings every month. The maturity period under this scheme is 5 years. At the same time, under this scheme, a return of 7.4 percent is being offered.
