PO MIS Matured : Will it be good idea to put this under FD?

[Medhu]

My father had invested Rs. 600000 under Post office - joint MIS with my Mother. Now it's matured. What would be best option to reinvest this amount, as FDs now a days have good interest rate. Will it be good idea to put this under FD where my father can yield better return than 8%. Or please suggest better options.

Thanks!

Medhu

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[>take]

PO MIS Interest Rate is 8.5 not 8.0, as mentioned by you. FD is not giving you monthly income as PO MIS.
Having said that it's individual circumstance which needs to be taking into account before making any decision.

[Rahul]

My father had invested Rs. 600000 under Post office - joint MIS with my Mother. Now it's matured. What would be best option to reinvest this amount, as FDs now a days have good interest rate. Will it be good idea to put this under FD where my father can yield better return than 8%. Or please suggest better options.

Thanks!
Medhu

If your father is a senior citizen, I would recommend you to go for Senior Citizen Savings Scheme (SCSS).