Need Help Against Fd

28L fd,1Lmutual fund, 1L stocks, 1L 

Even at 8% return it would come out at 20000 per month.

Some banks are offering fD rate of interest  as high as 8% for senior citizen 

with 7% it would be 17500 pm 

IndusInd gives 7.5% with 18-month tenure, but it will be a quarterly payout and still less than his monthly expenditure. I guess any nearby property that can provide him stable rent is the safest option.

For criteria - "They want to invest for monthly income."

What they are asking for is 10% return after taxes to pay for their 25K monthly expenses which, imho, is asking for a bit too much.

>> 15 L in Senior Citizen Saving Scheme = 26,625/- per quarter for 5 years. Return of capital after maturity in 5 years. Renewable after 5 years are over for further of 3 years or you can open new one. Current rate 7.1%

AND

>>> 15 L in Pradhan Mantri Vaya Vandana Yojana = 9,250/- per month or 17,750/- per quarter for 10 years. Return of Capital after 10 years. Scheme only on offer till March 31, 2023. So better hurry up. Current rate 7.4%.

OR

Post Office Monthly Scheme (lower RoI and higher headache)

You haven't mentioned age of your uncle. I assumed it is 60-62 years.

@shubham1727

Ramta_Jogi wrote:

For criteria - "They want to invest for monthly income."

>> 15 L in Senior Citizen Saving Scheme = 26,625/- per quarter for 5 years. Return of capital after maturity in 5 years. Renewable after 5 years are over for further of 3 years or you can open new one. Current rate 7.1%

AND

>>> 15 L in Pradhan Mantri Vaya Vandana Yojana = 9,250/- per month or 17,750/- per quarter for 10 years. Return of Capital after 10 years. Scheme only on offer till March 31, 2023. So better hurry up. Current rate 7.4%.

OR

Post Office Monthly Scheme (lower RoI and higher headache)

You haven't mentioned age of your uncle. I assumed it is 60-62 years.

@shubham1727

shubham1727 wrote:
61 age

Adding to the above, don't forget emergency/contingency fund of minimum 5L to be kept highly liquid... preferably in savings account which offers higher interest like bandhan bank.

Also, what about life/health insurance? @shubham1727

MF stocks should be strictly avoided 

Agnivo007 wrote:

Adding to the above, don't forget emergency/contingency fund of minimum 5L to be kept highly liquid... preferably in savings account which offers higher interest like bandhan bank.

Also, what about life/health insurance? @shubham1727

kukdookoo wrote:
Then avoid these long lock in period schemes. Check fd, bonds, debt options @EkdamSastaRaju

These 2 schemes are only available when you cross 60 years. It's only for Senior citizens. The rates too are not for general public 

Ramta_Jogi wrote:

These 2 schemes are only available when you cross 60 years. It's only for Senior citizens. The rates too are not for general public 

kukdookoo wrote:
Paji lock in period for senior citizen is advisable?

If it was not "advisable", it would not have been introduced. 

The only persons who don't advise it is are the mutual fund/ULIP sellers.