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.
This article was originally published on September 07, 2015.
Ask Value Research 
New episodes every Friday 
New Process Alert 
Seems like you've uploaded a wrong QR code. Please upload the QR code downloaded from MF Central platform.
