Hi Sreekanth,
Hope you are doing good. My father wants to invest his retirement surplus in mutual funds.
Currently he opted for SCSS from last 1 year and he quarterly he is getting the interest.
The remaining amount he did bank fixed deposit in name of my mother. But they are seeing there a low rate of interest.
They need some advise on putting that surplus amount say 10 L in mutual funds and they keep on asking for atleast a fixed income per month say 10000 rupees from this investments.
Can you please suggest any mutual funds and mode of investment (SWP)
Their incomes per month
Monthly Pension
SCSS --> Quartely
And current fixed deposit--> Monthly
Thanks,
Sandy
1 Answers
Dear Sandy,
Kindly note that the interest rate cycle is showing signs of uptick. Banks are slowly raising rates on deposits.
You may also have a look at Secured Non-Convertible Debentures or renowned Company Fixed Deposits, but kindly understand the risks associated with them and also do not invest entire corpus in one scheme/issue.
They can have a look at Pradhan Mantri Vaya Vandan Yojana as well.
Are they will to take risk? Are they highly dependent on the income generated on this investment corpus? Is this the first time they are going to invest in MFs?
Suggest you to kindly go through below articles and revert to me with more queries, if any;
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