My parents are retiring in a couple of years, have govt pension but also have a sizable corpus in their PF account.
Need advice on investment options, have no loans or debt right now. Focus on growing money with relatively low risk tolerance. Have considered FD, Debt fund.
What about the senior citizen saving scheme, is it good? What other options can I explore apart from gold and real estate?
If low risk tolerance then:
Rbi bonds (floating, locked for 7 years) gives 8.05% pre tax
Senior cit savings scheme at most banks is 7.5%+ but they need to be 60+
Arbitrage funds currently giving 7.5%+ and tax is 15% or 10% only
Short term debt funds have decent yields now if held for 1 year+
Bajaj finance fd maybe the low risk non bank option
Most insurance is bad, do equity only with the interest earned
I'd suggest you to take some help from a professional personal finance manager.
They'll help your parents plan and retire in a better way
Scss + FDs for majority portion of corpus.
Hybrid funds (MF+ debt) are decent.
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