Narayan Verma worked as a manager in a packaging company and knew with each passing day that his retirement was close. However, Narayan had a family along with two grandchildren to support. As a result, he needed to find an option that would secure their future. After a lot of research and numerous discussions with his employers, well-wishers, and mentors, he came to the conclusion that he had to find a suitable investment scheme that could financially secure life after retirement for his family and himself. He decided to meet with his chartered accountant and get an estimate of his savings. After an in-depth look at his finances, he invested in a FD (Fixed Deposit) , apart from signing up for an insurance policy.

Today, Narayan receives monthly interest on his fixed deposit and pays all his expenses with his own income. Additionally, the insurance policy will give a fixed amount of money to his family in the event of his demise and safeguard their future.

If you are seeking retirement, you can easily follow Narayan’s example and secure both your and your loved ones’ futures. When it comes to investments, there are numerous options to choose from like fixed deposit, senior citizen savings scheme, mutual funds and many more.

Various Options Suitable for Retirees

POMIS: The Post Office Monthly Income Scheme works on a monthly income basis. You can invest any given sum and gain up to 8.5% in the form of periodic returns. The tenor is a fixed period of 6 years. The maximum amount that you can invest is Rs.4.5 lakh. The returns from this option are taxed based on the income bracket of the investor.

    1. Mutual Funds: This option is ideal for investors who know how to deal in equity and have a healthy appetite for risks. As a retiree you can invest a lump sum or adopt an SIP approach to invest in mutual funds and gain high returns. It is important to check the ratings of the asset manager of your mutual fund and do some research before you invest, since these are affected by market ups and downs.


    Also Read: Mutual Funds v/s Fixed Deposits


    1. Company FDs: Steady interest rates, smooth growth, and optimal safety are some of the major benefits offered by fixed deposit schemes. It is remarkably easy to take a sum of money and invest it in an FD, and benefit from high FD interest ratesthat are fixed. The normal rates of interest range from 7% to 8.30%; with senior citizens getting the highest rates of interest. FDs with longer tenors offer increased maturity for your savings while those with shorter tenors offer more flexibility and quick returns.You can easily calculate your final amount with the help of FD Calculator.
    2. SCSS: The Senior Citizen Savings Scheme is designed exclusively for senior citizens and retired investors. If you invest in this scheme, you can benefit by earning interest up to 8.10%. In this scheme, investors can invest an amount of up to a maximum of Rs.15 lakh.
    3. National Savings Certificate: An exceptional idea is to invest a recurring amount on a monthly basis and make it grow over a period, which is exactly what the NSC does. It involves investing a minor sum of at least Rs.100 on a monthly basis and gaining interest. After 5-6 years the amount matures and can be withdrawn.


  1. Also Read: Prudent Investments after Retirement
  2. All of these options are ideal for retiring or retired investors as they are mostly low risk and can protect your earnings.
  3. Get the most rewarding investment options with Bajaj Finance, which offers FDs at attractive rates of interest for senior citizens with liquidity, easy application and flexible interest pay-outs.

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