Investment Tips: These are the Best Investment Plans for Senior Citizens, know about them...

Best Investment Schemes for Senior Citizens: People who are 60 years and above are known as senior citizens. There are many schemes of the central and state governments for senior citizens in India. Senior citizens generally retire. In such a situation, they get additional benefits in some special scheme. Also, there are some schemes for senior citizens. But some senior citizens prefer to work even after turning 60. In that case, the senior citizens will have to pay taxes. But with the help of some schemes, they can avoid tax and at the same time get a good return on investment. People start preparing for old age from their youth. These five schemes can also help you in this work.

Senior Citizen Savings Scheme
First of all, we will talk about Senior Citizen Savings Scheme. This is a central government scheme, which can be the best option for senior citizens. Tax exemption is available through this scheme, as well as excellent returns are also available. The central government has now given an 8 percent interest rate on this scheme, which was earlier 7.6 percent. From January 1, 2023, the interest rate on this scheme has been increased. The minimum investment period in this scheme is 5 years. You can extend it up to 3 years. The maximum investment amount in the scheme is Rs 15 lakh.

Tax Saving Fixed Deposit
  Although FD is a good investment option for everyone, tax saving FD is special because people can save their taxes by investing in it. All senior citizens of the country can invest in this scheme. You will find this scheme available in all banks. The interest rate on this scheme may vary from bank to bank. Axis Bank has 7.75 percent and SBI has 7.25 percent. But keep in mind that you have to invest for a minimum of 5 years in the Tax Savings Scheme.

National savings certificate
National Savings Certificate is also a government and very good scheme, which comes with tax benefits. Recently the interest rate on this scheme has increased. The scheme offers a 7 per cent interest rate from January 1, 2023, which was earlier 6.8 per cent.

ELSS Scheme
ELSS is a special scheme of mutual funds. Tax exemption is available in this scheme. But the minimum investment period in this scheme is 3 years. The returns you will get in this scheme, which is based on the ups and downs of the stock market.