There are limited investment options after retirement. Today in this article we are going to tell you about those options, where your money will be safe and you will also get good returns.
After retirement, any senior citizen has to take special care of his finances. He has to invest in a place where his money is completely safe and along with getting good returns, he can also save some tax. Today in this article we are going to tell about those four options, through which senior citizens can earn good returns as well as save tax.
Senior Citizen Saving Scheme (SCSS)
Senior Citizen Saving Scheme i.e. SCSS is a good saving option for senior citizens. It offers guaranteed returns and with this, 8.2 percent interest is being given in SCSS, which you can get paid on quarterly basis. You can invest a maximum amount of up to Rs 30 lakh in this.
Senior Citizen Fixed Deposit
Senior Citizen Fixed Deposit is a good investment option for senior citizens. If you get a tax saving FD for 5 years, you can also save tax. Apart from this, additional interest is also given by banks to senior citizens.
Post Office Monthly Income Scheme
Post Office Monthly Income Scheme is a good investment option. In this, a fixed amount is given to the investors every month. Its maturity period is 5 years. In this, an annual interest rate of 7.4 percent is being offered.
Tax Saving Mutual Fund
Tax saving mutual funds are also a good option. In this, the risk is slightly higher than the above mentioned options, but its special thing is that you get good returns. These funds are also called hybrid mutual funds. Here you get the option to invest in equity along with debt.
