Monthly Income: 5 Investment Options For Senior Citizens

Zee Media Bureau
Oct 14, 2023

Senior Citizen Savings Scheme

Seniors 60 years of age and above have the option to invest in this program to generate interest-based income every month.

Fixed Deposits

Bank FDs can be a safe and dependable source of income for seniors because they typically qualify for a 0.50 percent interest rate.

Guaranteed Income Plan

One is entitled to a fixed payout under this insurance plan at predetermined periods following the policy's maturity.

RBI Floating Rate Savings Bonds

A 0.35 percent spread over the NSC interest rate is seen for the RBI floating rate savings bonds. As a result, every adjustment to the NSC interest rates would affect the rates on the RBI floating savings bonds.

Mutual Funds

Equity-backed investments can change the game after retirement because they provide profitable returns compared to other investing options.

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