Senior Citizens Day 2025: These 5 schemes for senior citizens are 'support for old age'! Will give great returns along with security

Senior Citizens Day is celebrated every year on 21st August. On this occasion, know about 5 such schemes here which can become a big support in their old age. Through these, they can also keep their money safe and can also arrange for income.

After a lifetime of hard work, when you step on the threshold of retirement, the second innings of life begins. This is the time when you want rest and peace, but often the worry of money disturbs this peace. Regular income also stops, but expenses remain. In such a situation, it is most important that you have such a system, so that your money is safe and money arrangements is also done for you. Today, on the occasion of Senior Citizens Day 2025, know about 5 such schemes here which can be helpful for you.

1. Fixed Deposits (FD)

FD has always been a reliable option in banks. Banks give more interest on FD to senior citizens than to general customers. Banks usually give 0.50% to 0.75% more interest than the general FD rate. You can get FD from 1 year to 10 years according to your need.

Income option

If you invest your money in FD through laddering technique, then you can earn every year through interest. Apart from this, many banks also give the option of taking monthly, quarterly or yearly interest on FD, which provides regular income.

Tax: Investing in a 5-year tax saver FD offers 80C benefits. Interest up to Rs 50,000 in a financial year is tax-free.

2. Senior Citizen Savings Scheme (SCSS)

This is the best gift given by the government to senior citizens. This scheme is a great combination of security, guaranteed returns and regular income. Anyone over 60 years of age or those taking VRS at 55 years can invest in it. Currently, it is offering a tremendous interest of 8.2% per annum, which is much higher than most FDs. This is a government scheme, so your money is 100% safe.

Investment limit

You can invest a minimum of Rs 1000 and a maximum of Rs 30 lakh in it.

The interest money comes directly to your bank account every three months (quarterly).

Investing in this also gives tax exemption under section 80C.

3. Immediate Annuity Plans

These are pension plans of insurance companies (like LIC, HDFC Life, ICICI Pru). In this, you have to deposit a lump sum amount and the company immediately starts giving you a fixed pension for life from the next month. Those who want to end the tension of pension for life by investing money once, can invest in this.

Guaranteed Pension

Through this, you get a fixed pension for life. If you want, you can take such a policy in which your spouse also gets pension after you. There is also an option that after your death, the principal deposited is returned to your nominee. There is no upper limit of investment in this. The more money you invest, the more pension you will get.

4. Post Office Monthly Income Scheme (POMIS)

As the name suggests, this is a post office scheme that gives you a guaranteed income every month. Any Indian citizen, especially senior citizens who want a fixed amount every month. Currently, it is getting 7.4% annual interest. This is also a government scheme, so it is completely safe.

Investment limit

You can invest up to Rs 9 lakh in a single account and Rs 15 lakh in a joint account. The interest money comes to your post office savings account or bank account every month.

5. Systematic Withdrawal Plan (SWP)

This is a smart way to get regular income through mutual funds. In this, you invest a lump sum in a low-risk mutual fund (such as hybrid or debt fund) and keep withdrawing a fixed amount every month.

Who is it for

Those who want slightly better returns than FD and are willing to take a little market risk. If the market does well, your principal can grow even after you withdraw the money. You can increase or decrease the amount you can withdraw or even withdraw the entire amount whenever you want. SWP is taxed less than FD, which gives you more money in hand.

Important advice

Instead of investing all your money in one scheme, divide the money into 2-3 schemes according to your need. This will reduce your risk and you will also get the benefit of different schemes.

Frequently asked questions (FAQs)

1. Which scheme is the safest among all these?

Answer: Senior Citizen Savings Scheme (SCSS) and Post Office Monthly Income Scheme (POMIS) are the safest because they are guaranteed by the government.

2. Which scheme gives the highest guaranteed return?

Answer: Currently, the highest guaranteed return is available in Senior Citizen Savings Scheme (SCSS), which is 8.2% per annum.

3. Can I invest in more than one scheme?

Answer: Yes, of course. You can diversify your portfolio by investing in more than one scheme as per your investment limit and requirement.

4. If I want pension for life, then which scheme is best?

Answer: If you want guaranteed pension for life, then immediate annuity plans of insurance companies are the best option.

5. How much risk is there in SWP?

Answer: SWP is linked to mutual funds, so there is some market risk in it. But if you choose low-risk hybrid or debt funds, then this risk is reduced significantly.