A Senior citizen is the one who is above 60+ aged, generally we advise adults to go with EQUITY Investments, LICs, MUTUAL FINDS, SIP Investments or on Asset like Land/Plots which can generate income. All of these investment opportunities are good who has got Age and Energy to Earn and Save. Seniors are those who are at the age who cannot go on physical/mental works for generating Income.
Alternatively, definitely it is not the are for them to go on work, I cordially suggest all seniors kids who are adults now, they must take care of their elders at their maturity.
The best according to me for Seniors is to Put an FD with Monthly Withdrawal Interest Option for tenure of 2 or 3 years. They can periodically re-do the same once tenure is mature.
In this case they will be able to withdraw Interest Regularly/Monthly, it supports their daily needs and the money will be safe in Bank hands. Risk Factors are totally 99% away.
But the mandate factors are to keep minimal amount of funds so the the generated interest is pretty High, at least 30+ lakhs. At least 10,000Rs must be there every month in their hands.
However, as low as 10,000Rs FD can generate 140Rs monthly as 7% interest.
Let me know if any other best suggestions you people have.
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