Where should I invest LIC maturity amount of my father

[samkapoor77]

My father is a senior citizen and his LIC policy is soon going to be matured for Rs. 5 lakhs. His annual income is around Rs. 2.5 lakhs. He wants to invest the maturity amount for next 5 years in some profitable opportunity. He does not want to stake his money in mutual funds or equity shares. Where should I invest his money to generate tax free returns?

[samkapoor77]

You can consider investing this money in fixed deposits. Being a senior citizen, he will get 9.75% interest on the amount. Don’t forget to submit form 15 H to save tax deduction.

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