Hi Dev, hello. My grandmother has a corpus of around 30 Lacs which she wants to invest in order to get monthly returns. Please suggest where she should invest keeping in mind her risk appetite is low-medium. Thank you!
Ans: Assuming your grandmother is above 60, she can consider using SCSS or Senior Citizen's Savings Scheme which currently offers 8.2% per annum. The SCSS interest is paid out quarterly. So for a corpus of Rs 30 lakh in SCSS, she will get about Rs 61,500 per quarter - which translates into Rs 20-21,000 in monthly interest income.