At Rising Care, we value the financial security of our senior citizens. While neither our bank job assistant for the elderly nor we suggest any schemes or mutual funds for investment, we do assist our seniors when they wish to invest.
One of the ways we do that is by ferrying documents to and fro from the various offices and banks. If you are a senior, you can easily avail yourself of these services. Hence on that note, check out these 5 investment options that are a boon for seniors.
This scheme has been offered since August 2004. SCSS is a full debt instrument with zero risk. The current interest rate this scheme offers is 7.4%. Moreover, the rates are reviewed every quarter and apply to new deposits only. The maximum investment cannot exceed Rs. 15 lakhs across all your accounts. SCSS accounts can be easily closed at any desired time. Moreover, has tax implications. So consider them before investing.
As a senior citizen with a low-risk appetite, you can choose to invest in debt or hybrid mutual funds. You are likely to get returns in the range of 7-8%. If you are looking to invest in mutual funds, you can do so in 2 ways, either through an agent or directly by yourself through the fund house. In both cases, the bank job assistant for the elderly will help you through the process.
This was introduced in May 2020 and is open to investment until 30 June 2021. Senior citizens above the age of 60, including NRIs and those who have taken early retirement from the age of 55 are applicable for this scheme.
This scheme gives you low fixed monthly interest. Anyone above the age of 10 can invest in this scheme. All you need to do is go to your nearest post office and fill in the forms with the required documents. POMIS offers an interest rate of around 6% and gives a monthly income to the investors.
Introduced in 2017 for all senior citizens, this scheme is managed by the Life Insurance Corporation of India. This is a retirement-cum-pension scheme that provides a fixed lump sum amount. The rate of interest is around 8-8.3%.
As a senior investor, you can avail yourself of any of these schemes. Moreover, the bank job assistant for the elderly will assist you in your quest to get the documents, fill up the forms, and make trips to the bank on your behalf. Apart from this, they will also assist pensioners in the deposition of life certificates in banks. Hence, opt for Rising Care’s unique assistance in this regard.