Earning a regular income after retirement is necessary because you will not be able to manage your expenses without one. Also, as the interest rates on small saving schemes like PPF, SCSS, post office FDs are not as expected and fixed deposit rates have been reduced considerably, it is time to diversify your investment portfolio and target investments that offer better liquidity options without any risks. Based on these factors, here are the top 5 senior citizen investment plans that you can utilize to earn a regular income post-retirement:


SCSS not only offers a high interest rate but also gives you the option of withdrawing the interest after every quarter. Moreover, it allows you to get tax exemption up to Rs. 1,50,000. However, you can only invest only up to Rs. 15,00,000 in SCSS and the tenor options are also few.


POMIS (Post Office Monthly Income Scheme) is also a lucrative investment scheme for senior citizens because it pays a regular monthly income and also offers a high interest rate. However, you only have the option of choosing a 5-year tenure and the maximum amount that you can invest in POMIS is only Rs. 4,50,000.

3. Bank FDs

Investing in bank FDs was a smart choice for senior citizens until the interest rates were reduced by most banks right after the repo rate cuts that were implemented by RBI. However, you can still benefit from the regular interest payout option and choice of picking a tenor as per your investment needs by investing in a bank FD.

4. SDP

Bajaj Finance has introduced SDP (Systematic Deposit Plan) with the intent of providing a stable income source for senior citizens. With this deposit plan, anyone can start earning a fixed income without investing a huge chunk of money. For benefitting from SDP, you need to first deposit at least Rs. 5000 every month for a tenor up to 60 months as per your convenience.

You may choose to withdraw your entire interest accrued deposits upon completion of tenor or you can lock in every deposit for the same fixed tenor and receive maturity proceeds in successive months post tenor completion. This deposit plan is especially beneficial for those senior citizens who can afford to invest some money every month and grow their savings by leveraging the interest they earn from other investments like FDs or SCSS.

5. Corporate FDs

Investing in a high-paying senior citizen fixed deposit is also a good idea especially if the FD scheme guarantees high returns. Bajaj Finance FD is not only offering a lucrative FD interest rate of up to 6.75% but it also helps you earn by depositing in several FDs at once.

You can invest in multiple fixed deposit plans by selecting a different investment tenor and FD type for each of them. A tenor between 12 and 60 months can be chosen for every deposit and submitting a single cheque will allow you to invest in all the fixed deposit accounts at once.

The benefit of investing in multiple FDs is that you get higher liquidity options and you have the chance of consolidating the returns of some FDs in a high-paying FD when the FD interest rates go up again. Also, it is safe to invest in Bajaj Finance FD because CRISIL and ICRA which are the noteworthy credit rating institutions of our country have acknowledged it to be a credible instrument.

For being a senior citizen, you can earn a 0.25% higher FD rate with Bajaj Finance FD. As a non-senior citizen, you will be eligible for a 0.10% higher FD rate for investing through the online FD form. Loan against FDs, online investment tracking tools like FD calculator and other user-friendly features make it one of the best investment fixed deposit plans for senior citizens.

Author Bio:

Gaurav Khanna is an experienced financial advisor, digital marketer, and writer who is well known for his ability to predict market trends. Check out his blog at Highlight Story.

By Mayank

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