I have 10 lakhs FD with SBI and am getting 9.75% interest, which I am getting every month.
I have been advised to move this to Corporate Bond of Tata Steel Ltd @11.5% perpetual which is available now at Rs.10,72,500. I am told I will be getting every half year Rs.57,500.
Kindly advise whether it is okay to do this. I am a senior citizen and my current income is below tax bracket.
With regards,
T Shanmughan