My father is 68 and his post office deposits worth Rs 4 lakh is maturing. Please suggest what needs to be for him to get a regular income every month?
- Soumitra Bose
If this corpus is what your father is depending on income generation; for a safe, guaranteed and assured monthly income from the lump sum, you can consider investing in the post office monthly income scheme. This is a six year tenure offering 8 per cent interest currently where Rs 4 lakh deposit will earn Rs 2,600 every month over the next six years.
This article was originally published on September 09, 2011.
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