https://www.desidime.com/discussions/investment-options-for-senior-citizens?page=1#post_8083641
amitdealwala
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investment options for senior citizens
Friends what are some investment options for senior citizens and people close to 60 years of age? as due to age they need to stay away from equity, so options are like fd, ppf etc. is there any one which gives interest close to, if not more than, the inflation rate? second requirement is there should not be any lock in period or atleast no penalty on prematurity.
@Maverickz @Sudarshan61 @Ramta_Jogi @dharmanath481 @bikidas2060 @guest_999
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https://www.desidime.com/discussions/investment-options-for-senior-citizens?page=1#post_8083654
If only…🥺
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https://www.desidime.com/discussions/investment-options-for-senior-citizens?page=1#post_8083696
No lock in period means you have effectively ruled out PPF, SCSS. Even FD will have lock-in (some sort of penalties).
Only option I can think of is banks with higher interest rates. (even debt/liquid funds have some market fluctuations).
https://www.desidime.com/discussions/investment-options-for-senior-citizens?page=1#post_8083845
@kukdookoo – Check Pradhan Mantri Vaya Vandana Yojana for Senior Citizen u can lock interest rate for 10 years
https://www.desidime.com/discussions/investment-options-for-senior-citizens?page=1#post_8084480
thanks bhai. first they should name these schemes something else pardhan mantri, mukh mantri etc. are a big turn off.now few points https://cleartax.in/s/pradhan-mantri-vaya-vanda...
- lic is managing it, they are notorious in this
- the above page does not talk about prematurity except in health cases so it means that the money is locked for 10 years. moreover even in health cases they will deduct 2% of the principal amount (the pension amount will all be gone, telling from my experience from other lic products)
- the above page does not tell whether pension paid will be taxable or not
- the roi from the link the sales brochure from the link that you have shared is 7.40% and that can be revised
- as per that gst also might be included in it, as it is on most lic products
it seems to be a bad option. let others comment on it.
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https://www.desidime.com/discussions/investment-options-for-senior-citizens?page=1#post_8083959
They can look into investing in Debt Mutual Funds for generating superior returns and avoiding any lock-in period… Generally, mutual funds have an exit load (0.5% to 1%)for withdrawals made within 1 year. However, if the withdrawal is made after 1 year, there is no exit load.
https://www.desidime.com/discussions/investment-options-for-senior-citizens?page=1#post_8084475
Capital gain tax will be applicable. And indexation benefits can be availed after 3 years. 🙂
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https://www.desidime.com/discussions/investment-options-for-senior-citizens?page=1#post_8084208
Equitas also reduced interest rates from 15th November
https://www.desidime.com/discussions/investment-options-for-senior-citizens?page=1#post_8084212
Following
https://www.desidime.com/discussions/investment-options-for-senior-citizens?page=1#post_8084484
Renting properties can generate good income. And since the concerned party doesn’t want any lock-in period, risks associated with higher rate of returns etc then they have to think of something radical that’s tailor made solely for their needs. Maybe talk with a professional. I don’t have any idea about products which meet the required specs.
https://www.desidime.com/discussions/investment-options-for-senior-citizens?page=1#post_8084488
biki paji for a property to generate a good rental income a good amount of investment is needed plus time. moreover senior citizens usually want risk free over higher returns so this question.
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