Guaranteed Monthly Income For Seniors: Top LIC, SBI, HDFC, ICICI Plans

Looking out for seniors' financial well-being and a steady income after retirement? Some key plans from big names like LIC and SBI can be super helpful. Let's dive in..

A pension plan by LIC for citizens 60+. Invest a lump sum for a pension. Max investment is ₹15 lakh with a 7.40% fixed return. The principal is returned to the nominee on death.

A single-premium plan with two options: 'Immediate Annuity' for instant pension or 'Deferred Annuity' for a later start. Min investment is ₹1.5 lakh, with no upper limit. Loan available.

A personal savings pension plan for a comfy retirement. Max entry age is 65. It offers a guaranteed bonus for the first 5 years. Starts with a minimum annual premium of ₹7,500.

A special term deposit by SBI to protect seniors' income. It offers a 6.50% interest rate for tenures of 5 to 10 years. Premature withdrawal reduces the interest rate to 6.2%.

This HDFC Bank plan gives seniors 75 basis points extra interest on FDs over 5 years. Rates range from 3.5% to 6.50%. Penalties apply for premature withdrawal of the FD.

This plan offers a 6.55% interest rate on deposits up to ₹2 crore for 5-10 years. Seniors get 80 basis points more than the general rate. Also available for NRIs. Loan up to 90%.

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