Hello,
My father has retired last year and has invested his retirement benefits in the below manner.
a).Post office senior citizens savings scheme – 5 lakhs
b).3 lakhs FD for 2 yr 9 months at 10.25% interest
c).4 lakh FD for 33 months at 10% interest
d).2 lakh FD for 1 year at 10.05% interest
e).4 lakhs FD for 1000 days at 9.75% interest
f).2 lakhs FD for 18 months at 9.75% interest
g).SBI Life insurance Smart Performance plan for a one time premium of Rs.75000
h) SBI Shubh nivesh whole life plan for a sum assured of Rs.3 lakhs with yearly premium at Rs.104496 to be paid for 5 years
i).Liquid cash in savings account – 2 lakhs
He gets a monthly pension of Rs.17000 , lives in own house and gets a rental income of Rs.12000
Please advise how his investments can be altered so that he will get the maximum return.As he is a retiree,he wants to do low risk investments only.
Thanks,
Phani