Where should my uncle invest his retirement corpus

[samkapoor77]

My uncle has retired few days back. He is 58 years ofage. On retirement, he has received Rs. 90 lakhs of his outstanding home loan. He wants to invest the remaining amount to accumulate wealth. He is uninterested in taking risk and investing in insurance policies and other market linked products. His wife is earning, one son is in graduation. He is receiving handsome pension of Rs. 50,000 and joined another organization as consultant. Please suggest where he should invest the available corpus.

[samkapoor77]

Ask him to deposit the entire amount in fixed deposits with different banks in number of FDs.

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