Where to invest my father’s money for getting monthly income

[samkapoor77]

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.

[samkapoor77]

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.

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