Updated:
Share Article
AAA
Q. I am a retired senior citizen, aged 71. Along with my wife, I have invested about 50% of my retirement corpus in leading public sector banks’ and NBFCs’ deposits. The balance is distributed across SCSS, LIC Vaya Vandana Yojana, PPF, RBI 7.75% taxable bonds. Some bank and NBFC FDs worth ₹30 lakh will be maturing shortly. The new interest rates are very low. Kindly advise any other secure investment option available for regular income with better returns as we are dependent on our interest income.
Rajesh
A. The ultra-low interest rates in the economy have allowed lenders to raise deposits at very low rates that don’t really compensate for inflation. We do think that the abnormally low interest rates will improve once economic growth normalises.