For Senior Citizen

POSTED BY Dominic Prakash ON March 1, 2011 11:51 am ONE COMMENT

I am looking for good option for my mom.

I have seen this post here. http://localhost/jagoforum2/option-for-senior-citizen-investment/607/

I came to know recently that Canara Bank is offering FD of 10.50% for 10 years. I am not sure about the interest payment (monthly/yearly etc). Planning to move part of the interest to some MF inthe name of her grand children through SIP.

Do you guys think this is better than the SCSS of Postoffice/SBI.

 

One reply on this article “For Senior Citizen”

  1. ashal jauhari says:

    Dear Dominic, such high interest rate FDs are useful now specially for the Sr. Citizen that current rates can be locked for next 5-7-10 years. Even if Interest pay out is in yly mode it’s a worth as other options SCSS & POMIS are also taxable & providing lower return.

    Thanks

    Ashal

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