Need A Financial Product Forums Trading/Investments Where to invest my father’s money for getting monthly income

This topic contains 1 reply, has 2 voices, and was last updated by  Janardan Pandit 2 years, 4 months ago.

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • #47055

    My father has 15 lakhs. He wants to invest in a way that he can get some monthly income and funds for emergency. He is a senior citizen and has a savings account with Punjab National Bank. He follows a traditional route and doesn’t want to invest in MFs or equity. Please suggest the perfect route.

    #47056

    You can ask him to deposit Rs. 10 lakhs in FD with monthly payout option. Interest rate for senior citizen is 9.5%. 3 lakhs in cumulative FD for long period of time. Rs. 2 lakhs in savings account. This will be his emergency fund.

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.