In India - Best Options To Invest Rupees 6000 Every Month For 10 Years

Hi OP,

RD is the best option to pay monthly and can convert into FD's after certain amount which will give you good interest and some banks dont charge anything to draw them in middle. We did with Gramina bank(local one) and got good interest rate when deposited in my dad's name (senior citizen).

Hope this helps.

 

Each bank has different age criteria, I would choose a bank near to parents current or future residence and start investing, we went with "Gramina Bank" near our parents home and got around avg of 9% interest rate (it also depends on how long you kept money in FD).

 

1. Buy Bonds (8.5% fixed for 4-5 yrs) and reinvest them again.
2. FD : since its every month. you need to take wise decision for lumpsum
3. Postal savings scheme.
4. check ICICI. Iwish Calculator. you dont need bank account to check.

Thanks

 

My suggestion is FD and postal savings scheme.

 

I felt postal savings schemes are a very good option. start with RDs and once you get to around 1,2,3 lakh rupees , put that amount in monthly income scheme. you can divert the monthly income to RDs and it will be handsome chunk of money at the end of 6 years. in the mean time you can stick do Rds with 6000 and keep converting them to MIS.

at a later stage , you can invest upto 9 lakhs in joint MIS scheme for your mom and dad.

also look at some mutual funds if you ok with some risk. if you keep the money for long term, you will see a decent return.