4 Best Recommended Investment Schemes for Senior Citizens

Senior citizens need a steady flow of income to enjoy a luxurious retired life. Hence, it becomes important for them to invest in a risk-free and diverse investment portfolio that not only provides them with better security but also delivers income and growth.
 
Here, we take a look at the 4 top recommended investment schemes for senior citizens.
 
• 1. Fixed Deposit

  • Senior citizens get a 0.50% extra interest on Fixed Deposit at AU Bank
  • Interest payout option is available on a monthly & quarterly basis, as well as at maturity
  • At AU Bank, senior citizens can start with an FD as small as Rs. 1,000
  • Flexible tenure ranging from 7 days to 10 years depending on the bank
  • Safe and free from market variables
  • Premature withdrawal, nomination, loan, and sweep-in facility
 
• 2. Savings Account

  • A savings bank account ensures the safety of your money
  • Saving account offers good interest rates with personalized services
  • AU Bank allows you to open Senior Citizen Savings Account, with a min balance of Rs. 5,000/-
 
• 3. Recurring Deposit

  • Allows you to deposit a fixed amount of money every month for a predefined period of time of your choice
  • Interest is paid only on maturity
  • Best and safe option to invest
  • Allows you to build your wealth, bit by bit
  • At AU Bank, senior citizens can start with an RD– as small as Rs. 100
  • This may have a minimum tenure of 3 months and a maximum tenure of 10 years.
 
• 4. Debt Funds

  • Long-term debt funds can offer a higher value depending on the performance

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