I am going to retire in the next two months. I want to invest about ₹10 lakh with a five-year horizon. Please tell me which are the best options for regular income and also return of the whole money on maturity.
- GS Jain
If you are looking for investment avenues that will offer regular income to take care of your living expenses and return the capital at the end of the term, you will have to invest the money in government-backed plans like Senior Citizen Savings Scheme (SCSS) or Post Office Monthly Income Scheme (POMIS). These plans offer periodic assured returns and they also return at the capital at the end of the term. You can also look out for tax-free bonds issued by public sector entities.
This article was originally published on March 31, 2016.
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