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Best Investment Plans that Generate Regular Income for Senior Citizens and Women

Gaurav Khanna
Lenovo Many GEOs

While senior citizens need to grow their capital while managing their daily necessities, women need to take care of trivial expenses related to their kids and family. Therefore, retirees and homemakers would want to earn a fixed regular income from their savings. Owing to the volatile nature of the market-linked instruments, they should prefer the financial instruments that offer fixed returns. Here are some best investment options for them:


The Post Office Monthly Income Scheme is a safe investment option for everyone. It is especially beneficial for retirees and women because it generates a fixed income every month. The investment tenor of POMIS is 5 years and the investment amount can vary from Rs. 1500 to Rs. 4,500,000 as per your investment obligations. 

The main benefit of this scheme is that you can open multiple POMIS accounts with each account having an upper investment limit of Rs. 4,50,000. Upon maturity, the invested amount can be reinvested or withdrawn. Therefore, it is an ideal option for wealth creation as well. 

Fixed deposits 

Fixed deposits are an instrument preferred by everyone owing to the stability and high liquidity it offers. Most FDs allow you to choose the periodic payout option as per your need. For instance, Bajaj Finance FD lets you choose between monthly, annual, bi-annual, and quarterly interest payouts as per your needs. 


Senior citizens including women older than 60 can benefit from the Senior Citizen Saving Scheme. It facilitates a quick growth of investment and also comes with a quarterly interest payout alternative. The investment amount can range between Rs. 1000 and Rs. 15,00,000. It comes with a fixed tenor of 5 years that can be increased by another 3 years upon request. 

You can invest in SCSS by visiting a post office or any of the major banks in India. A tax deduction of up to Rs. 1,50,000 per annum makes it a highly profitable scheme for senior citizens. However, the interest earned through SCSS is taxable according to the tax slab applicable for your income profile. 

Corporate FDs 

Corporate FDs are like regular fixed deposit accounts but it comes with many user-friendly options as compared to regular bank FDs. For instance, it offers a higher rate of interest and also gives you the option of withdrawing the deposits during emergencies. 

Bajaj Finance FD is offering the highest FD rates in India currently. A 7.05% FD rate applies to the senior citizen fixed deposit scheme whereas women investors can grow their deposits at a 6.50% FD rate. Investors below the age of 60 can also earn interest at a 0.10% additional FD interest rate by choosing the online investment option. 

For example, on investing Rs. 20,00,000 for 5 years, you get these interest payout options:

Interest Payout Options Total Payout (Senior Citizens)Total Payout (Online Women Investors)Total Payout (Offline Women Investors 
Monthly Rs. 6,55,000Rs. 6,40,993Rs. 6,30,994
QuarterlyRs. 6,59,000Rs. 6,44,000Rs. 6,35,000
Six-monthlyRs. 6,64,000Rs. 6,49,000Rs. 6,40,000
Yearly Rs. 6,75,000Rs. 6,60,000Rs. 6,50,000

Also, it is safe to invest in Bajaj Finance FD as credit rating agencies like CRISIL and ICRA have given it high ratings on stability and credibility. The option of liquidating deposits during an emergency makes it a viable option for you. You may even apply for a collateral-free loan against your deposits to prevent any irregularities in your financial plans. All these features and benefits make Bajaj Finance FD the best fixed deposit for women and senior citizens.

The online FD form coupled with CKYC online document verification procedure makes it a convenient investment option for retirees and women. Moreover, Bajaj Finance FD lets you earn a period income as per your financial needs.

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