Putting your money in different investment instruments can yield more returns than a single product. Here are some of the most popular investment options to earn stable returns, especially for senior citizens. Put your wealth in different schemes based on their tenure, interest rate, and risks. 

Senior Citizen Savings Scheme 

This government-backed retirement benefits programme allows senior citizens (above 60 years) to invest a lump sum to get access to regular income along with tax benefits. The maximum amount that can be deposited is INR 15 lakhs. SCSS offers an interest rate of 8.2% p.a. Though the tenure of this scheme is 5 years, premature withdrawal is also allowed. 

Fixed Deposits 

One of the most secure investment options, Fixed Deposits offer guaranteed returns, flexible tenure, and are easy to open. In a Fixed Deposit, you can put a lump sum amount for a fixed tenure at a predefined rate of interest. Unlike other investments whose returns fluctuate with the market, the returns on FD are fixed. 

Mutual Fund Debt 

Debt funds invest in fixed-income securities, such as corporate bonds, government securities, commercial papers, and others. All these instruments have a pre-decided rate of interest and tenure. Since they are diversified across various instruments, they ensure stable returns and lower risk exposure. 

Diversified Equity Funds 

These equity funds invest in companies across sizes, including large caps (large companies), mid caps (mid-sized companies), and small caps (small enterprises). Also, they invest in different sectors and industries so that it is not tied with a particular sector. The diversification of investments across the stock market tends to maximize gains for investors. 

You can use this calculator to determine the right investment portfolio according to your risk appetite, expected returns, and financial goals. 

For instance, if you are a risk-averse investor, you can invest 30-40% of your investment amounts in mutual funds equity. On the other hand, the moderate risk taker can invest 50% in these mutual funds. And finally, an aggressive investor can invest 70% in equity funds in a bid to gain maximum returns.