Lifestyle
Here are 7 options you can consider while preparing for your sunset years.
Suitable for risk-averse investors, these bonds pay set monthly interest payments for up to 40 years.
Offered by NBFCs and HFCs, they may give greater returns but need a thorough assessment of the company's financial stability.
Offers a 7.4% annual return, with investment limits of Rs. 4,50,000 for individuals and Rs. 9,00,000 for combined accounts.
Monthly Income Plans (MIPs) are mutual funds that invest largely in fixed-income assets, with a portion in equities to seek greater returns, but with considerable risk.
The Pradhan Mantri Vaya Vandana Yojana (PMVVY) is a government pension system providing a 4% yearly return to older individuals.
Life Insurance Plus Savings Plans - These plans combine life insurance and savings to provide a guaranteed income at maturity.
Allow for regular withdrawals from mutual fund assets, resulting in a consistent income while staying invested.