Alternative to Post Office MIS | Value Research Senior Citizen Savings Scheme can be a good stable investment as it pays an interest rate of 9.3% per annum
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Alternative to Post Office MIS

Senior Citizen Savings Scheme can be a good stable investment as it pays an interest rate of 9.3% per annum

Our parents have no income. We'd like to invest some money in their name to secure a monthly income for them. I am aware of Monthly Income Scheme of Post Office, which gives 8.40% interest per annum and keeps the corpus safe. Is there any other alternative that offers more & almost stable interest and keep the corpus same?
- Srikanth

If your primary objective is to secure stable income and preserve the capital, you can also consider Senior Citizen Savings Scheme Account. It pays an interest rate of 9.3% per annum (but payable quarterly), payable from the date of deposit of 31st March/30th Sept/31st December in the first instance and interest will be paid on 31st March, 30th June, 30th Sept and 31st December thereafter. You can invest a maximum of up to ₹15 lakh in lumpsum in an account.


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