I am a senior citizen affected by recent reduction in SCSS interest rate and looking at investment in MIS debt fund with SWP option.
1. If I buy already operating fund my yield will be lower due to NAV being higher than par. If yield is less than SCSS it makes no sense. Hence I have to wait for new issues. How do I find new issues and which fund house is preferable Axis, ICICI ? 2. IDFC bank gives 8.75% on term deposit for seniors. I was planning to invest some funds in that. what is your advise?
What is your exact requirement from this investment? You have so many myths (Smelling created by advisors who sell mutual funds).
2 questions- 1.is there any debt mutual fund which would give better return than SCSS rate of 8.66%. 2. is it ok to invest in IDFC term deposit which gives 8.75% for senior citizens? thanks