I have 13-14 lacs available for investment. I might buy some property in another 1-2 years(not sure about exact time). Till that time I would like to invest this money. I am thinking of two options
1. Bank of maharashtra has FD with interest rate of 9% for senior citizens. My father is retired staff member of the bank so he will be getting 1% extra which makes it as 10% annual interest. So my father can put it in fixed deposit in his name(and me as nominee). His income(i.e. pension + annual FD interest) should not attract any tax(he will submit 15H form for the same). If I need the money in between I can break FD where there is only 1% penalty. in that case 9% interest also looks fine.
OR
2. To invest in one of the debt fund like Reliance MIP or HDFC MIP. Here the returns could be nice(11 or 12%) but there is little risk associated with it.
Please let me know readers view about my options or suggest other options