POSTED BY
ronak shah
ON
September 11, 2012 6:25 pm COMMENTS (4)
My father is retired person whose age is 58 years. So, he is not senior citizen. Now, he wants to invest 5-7lac rupees. So, that he will get monthly returns. Please suggest any scheme with maximum interest and no risk. Also, no TDS.
A good option was Senior Citizen Saving Scheme , but he is not eligible for that. I can only think of a simple FD for next 2 yrs with monthly interest payout , or as suggested by Anand
you can invest in LIC Jeevan Akshay VI,
It is an Immediate Annuity plan, which can be purchased by paying a lump sum amount. The plan provides for annuity payments of a stated amount throughout the life time of the annuitant. Various options are available for the type and mode of payment of annuities.
Best option in that plan is –
Annuity for life with return of purchase price on death of the annuitant
Ronak
A good option was Senior Citizen Saving Scheme , but he is not eligible for that. I can only think of a simple FD for next 2 yrs with monthly interest payout , or as suggested by Anand
you can invest in LIC Jeevan Akshay VI,
It is an Immediate Annuity plan, which can be purchased by paying a lump sum amount. The plan provides for annuity payments of a stated amount throughout the life time of the annuitant. Various options are available for the type and mode of payment of annuities.
Best option in that plan is –
Annuity for life with return of purchase price on death of the annuitant
Fidelity Cash Fund – Retail Plan – Monthly Dividend Option
No entry load. No exit load. No TDS. No risk.
What is the monthly requirement of your father?