InvestorQ : What is the best investment option for retirement benefits? Which institute is safe and give the best interest rates?
Chandralekha Desai made post

What is the best investment option for retirement benefits? Which institute is safe and give the best interest rates?

Answer
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Mitali Bhutta answered.
1 year ago


To make your silver years worry-free, one must look out for retirement options that best suit his requirement after retirement. People have different expectations at their retirement. One thing that is common among all is to keep money aside for medical expenses and possible emergencies. Now, before moving on to the best investment option, the two most important things you need to decide are:

The approximate amount you’re going to need on retirement, and 
What amount you’re willing to set aside today?

Based on the above 2 things it becomes easy to decide the best option for you, because the option that’s best for another person may not be suitable for you.
These are the top 5 retirement investment plans:
LIC Jeevan Akshay 6 Plan
LIC Jeevan Nidhi Plan
SBI Life Saral Pension Plan
HDFC Life- Assured Pension Plan
ICICI Pru- Easy Retirement

These are the tailor-made retirement options available. Besides these ones can also consider investing in mutual funds, SIP, ULIP, etc. these are long-term investment options which may give an interesting return in lump-sum amount.
Currently, all the banks are offering interest rates of around 7-8% on their 10-year series bonds, as there is a slowdown in the economy due to which interest rates are being slashed. SBI, on the other hand, is offering 9-10% returns on its 10 to 15 year retail bonds.

Investment in bonds or banks FD is not going to fetch more returns these days. There are better-investing options available for long-term which can ensure much better returns. To be precise, consider your needs before investing and the tenure and amount you’re willing to invest and making cost-benefit analysis in this regard are important.