POSTED BY June 23, 2013 8:41 pm ONE COMMENTON
I am looking for Senior Citizen investment options for my parents. It should be low risk.
Also plz provide bank detail which provide maximum intrest for senior citizen in Bank Fixed deposit.
Thanks in Advance.
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One reply on this article “What are various Investment options for Senior Citizen?”
Simply typing ‘compare FD rate’ will take you to comparison portals.
Best to stick to established private banks or psu banks
As reg. investment options: to answer this you need to figure what low risk means
That is the following needs to be factored in
Income needed each month/year
Are they dependent on children to support them
How long do you think they will need the income (life expectancy of younger parent)
Loss of capital is only one type of risk. If you parents live for another 15 years will the present corpus support expenses if you were to invest the entire amt in FD?
If the amt available is small and they need to depend on children for some % of expenses then it maybe best to invest entirely in FDs to guarantee some income.
If the amt is enough to handle annual expenses for next few years then some portion should be used for income and some for investment.