Monthly Income scheme

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.

 

4 replies on this article “Monthly Income scheme”

  1. 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

  2. kumar143144 says:

    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

  3. Anand says:

    Fidelity Cash Fund – Retail Plan – Monthly Dividend Option

    No entry load. No exit load. No TDS. No risk.

  4. Ramesh says:

    What is the monthly requirement of your father?

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