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What are the best investment instruments for senior citizens? Hemant Sood answers
Hemant Sood, MD of Findoc, recommends the top investment instruments for senior citizens as NPS, Atal Pension Yojana, and Pradhan Mantri Vaya Vandana Yojana. These schemes offer low-risk or zero-risk investments backed by the government of India. The returns range from 6-7%, with regular interest payments. However, the regular monthly income from these schemes is taxable. Senior citizens should consider tax-efficient investment instruments, such as those linked with insurance, for long-term schemes.