Many senior citizens are on the lookout for a steady income during retirement, and they often prefer investment options that offer stable returns such as bank fixed deposits (FDs), the Senior Citizens Savings Scheme (SCSS) and the RBI Floating Rate Savings Bonds.
The SCSS offers a quarterly payout. FDs also have options for a quarterly payout, while RBI floating rate offers a bi-annual payout. There is no maximum investment limit in either FDs and RBI bonds, while the SCSS has a maximum investment limit of Rs 30 lakh. So if you have Rs 20 lakh to invest, which option gives you the maximum interest? SBI senior citizen 5-year FD, SCSS, or the RBI Floating Rate Bond? Let's find out!
