New Delhi : Financial specialists are profoundly excited almost the Dependence Jio IPO and are anticipating it with awesome expectation. After two decades, Dependence Businesses is set to dispatch an IPO for one of its major commerce units. Presently, Mukesh Ambani has given a critical upgrade with respect to this Jio IPO . The draft outline for Jio Stages is anticipated to be recorded following month. This may possibly be the biggest IPO in the country's history. Dependence has designated a consortium of 19 banks to oversee this process. Mukesh Ambani, Chairman of Dependence Businesses, has dropped a major indicate with respect to the exceedingly expected IPO of Jio Stages. Depicting it as a "definitive breakthrough," Ambani signaled that the company is quickly progressing in its arrangements for what is balanced to be India's largest-ever IPO. Talking amid the company's profit discharge, Ambani expressed, "I am satisfied to share that we are making...
Bank fixed deposits are the preferred
investment option for many people. However, senior citizens mostly depend on
interest income for their expenses. However, recently a difficult phase is
going on as the interest rate on fixed deposits has come down drastically. The
economy is unlikely to recover soon from Corona, so seniors need to rethink
their portfolios. In this news, we will tell you about four investment options
where senior citizens can get high returns on investment given the current
situation.
Senior Citizen Savings Scheme (SCSS):
A maximum of Rs 15 lakhs can be invested in SCSS in multiples of Rs 1,000. The
interest in this scheme is payable every quarter, so it can be used as regular
income. The SCSS account matures in five years, after which one can extend it
for a block of three years. Despite the large reduction in the interest rates
of small savings schemes, SCSS was paying 7.45% for the April-June quarter,
which is much higher than any other fixed-return scheme available to senior
citizens.
Pradhan Mantri Vay Vandana Yojana or
PMVVY Scheme: This pension scheme has a policy term of 10 years and the
pensioner can opt for pension monthly, quarterly, half-yearly or annually. Now
the interest in Pradhan Mantri Vaya Vandana Yojana (PMVVY) is higher than the
Fixed Deposit Scheme proposed by SBI. This scheme will give 7.40% per annum in
FY 2021. Any person who is 60 years or above 60 years of age can avail the
Pradhan Mantri Vyavandana Yojana (PMVVY) scheme. The scheme also offers a death
benefit. Under this, the purchase price is refunded to the nominee. Earlier
this policy was open for a very short period. Then its duration was extended to
31 March 2020. Now it has been increased to 31 March 2023 for another three
years.
RBI Savings Bonds: These
floating-rate bonds are issued by the RBI in electronic form only at 7.15% per
annum (0.35% above the current NSC rate). Its rates are reset every six months.
Individual (including joint holdings) and Hindu Undivided Family (HUF) are
eligible to invest in it. NRIs cannot invest in these bonds. There is no
maximum investment limit in bonds. The minimum investment starts at Rs 1,000
and is in multiples of Rs 1,000.
Post Office Monthly Income Scheme:
POMIS is a good option for senior citizens seeking a steady income. Currently,
the scheme offers a 6.60% interest. While the minimum required investment in this
is Rs 1,000, the maximum is Rs 4.5 lakh for a single account and Rs 9 lakh for
a joint account. To open a POMIS account, you have to open a savings account in
the same post office branch. Interest earned in POMIS is taxable.
Debt Funds: Since these are mutual
funds that focus on fixed-income investments, they are considered more secure
than other funds. Long-term debt funds can offer you higher value based on
market performance. They give a high rank in return on investment and provide you
with returns that can increase up to 15% per year. They also provide high
liquidity, although you may have to pay a fee for withdrawals before the
minimum investment period.
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