Investment for maturing bank deposits for a retired 66 year old person

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Query on safe investment options for a 66-year-old retiree after bank FD maturity. It was suggested to prioritise SCSS for high guaranteed returns, followed by RBI bonds for unlimited safe investment. If these limits are exhausted, diversified multi-asset mutual funds can be considered for balanced risk and returns.

pkkapoor

pkkapoor (Querist)

04 January 2026 A retired 66 year old person invested a part of terminal benefits in bank deposits five years ago. This is maturing this month only.
Considering risk and safety criteria for this retired person, where should he invest to earn best possible return?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

05 January 2026 For a retired person aged 66, the best investment options in India that balance risk, safety, and returns are government-backed schemes and senior citizen bank fixed deposits (FDs). The Senior Citizen Savings Scheme (SCSS) is likely the best choice for a high, guaranteed, and regular income stream. The SCSS currently offers the highest stable interest rate among the government schemes listed at 8.2% per annum, which is higher than most bank FDs. Partly can be invested in RBI Bonds.

pkkapoor

pkkapoor (Querist)

05 January 2026 But if Limit for SCSS is exhausted and RBI bonds also already done!

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

05 January 2026 In that case consider some multi assets MF. RBI bonds can be purchased for any amount. No cap.

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