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Best Investment Options For Senior Citizens

Retirement marks a significant turning point in your life. Everyone, whether self-employed or salaried, hopes for a secure retirement. Take a look at the best investment options for senior citizens
Ajeeta Bhatia
Bank Fixed Deposit
Banks provide retirees with higher interest rates and they are exempted from paying taxes on interest income upto Rs 50,000 under Section 80TTB of the IT Act.
Pradhan Mantri Vaya Vandana Yojana
Pradhan Mantri Vaya Vandana Yojana is a low-risk investment pension plan which offers senior citizens a lump sum investment
Senior Citizen Savings Scheme 
SCSS is an excellent investment option for seniors seeking long-term savings plans providing  security as well as additional benefits.
Post Office Monthly Income Scheme
This account can be opened with  minimum amount of 1,000 and maximum of 100,000. A single account can hold up to 4.5 lakh rupees, while a joint account up to 9 lakh.
Post Office Time Deposit Account
POTD is one of India Post's most well-known savings plans. Senior citizens can make deductions of the cost of a 5-year POTD Account under Section 80C of the Income Tax Act