Whenever, you think about investment always consider your objectives, age, and risk appetite. Your investment and these factors are related closely to each other.
The investment plans differ with senior citizens, adults, earning incoming groups, non-earning group. The objective differs from retirement corpus to educational and marriage plans.
Keeping the general investment choice into consideration, i.e you as a risk-averse
I would suggest you choose the fixed deposit. But if you are open to take some risk and look for more returns that you can explore for diversification of your fund. diversification of funds can be done in equity for long term and choose some selective mutual funds scheme.