Monthly Income Scheme: Can anyone suggest me as to where can put my Provident Fund money for income?

I am a retired man (below 60) and have no income other than my acruued savings during life time service. I need to utilise this for monthly income for a living with spouse.

first Fifteen laks in Senion Citizen Scheme and nex three lakhs in MIS scheme of Post Office. The return of saenior citizen sc is 9 % pa and post office 8 %. if u have more u decide for that

at this juncture u require safe and secured income. but not venture for risk. hence put u r money in postal savings monthly income plan .u can open that in the name of u r wife and ur self jointly. so that u can earn monthly interest. even though the rare of interest is little bit lesser but safety and security is there. dont go for offering more than 14% as such rthere is no establishment that offers this much interest in the interest falling regime. now there is an indication that interest rates may fall less than 10% with in four or five days.hence better deposit in post office monthly income scheme. all the best.

In any Bank:: IN IOB there are good schemes for deposits

Hi,
most people suggest u to put money in post office. but i feel you should think about share market. It will be good hobby for you to analise the market conditions. it will give u satisfaction of earning. best wishes

As you have retired you should not take to stock market.Pl invest 75% in monthly income plan of UTI/ ICICI/ TEMPLETON.
Pl use 25% in equity based schemes whose return would compensate our loss on account of inflation

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