This document discusses various financial options and benefits available for senior citizens in India. It outlines investment avenues like the Senior Citizen Savings Scheme (SCSS), Pradhan Mantri Vaya Vandana Yojana (PMVVY), bank fixed deposits, debt and hybrid mutual funds that provide returns and regular income. Reverse mortgage is also described as an option to receive regular payouts without losing ownership of one's home. General benefits for senior citizens include tax exemptions, discounts on travel and utilities. The document encourages celebrating Senior Citizen Day and managing finances well for a joyful retirement.

1. Mutual Funds
Aditya Birla Sun Life Mutual Fund
Senior Citizen Day can
be an empowering
one if finances are
managed well!

2. Mutual Funds
Aditya Birla Sun Life Mutual Fund
Remember the long story telling
sessions with your grand-parents
were a true joy in childhood?

3. Mutual Funds
Aditya Birla Sun Life Mutual Fund
How about we take a moment to
celebrate Senior Citizens Day for
the love of our grandparents?

4. Mutual Funds
Aditya Birla Sun Life Mutual Fund
Retirement has its own charm. Free of most
responsibilities, this phase is all about
small joys of life. Family time, holidays,
social work, etc. replace the hectic day to
day life to usher a new-found freedom.

5. Mutual Funds
Aditya Birla Sun Life Mutual Fund
There are many benefits available for senior
citizens to make their post retirement
journey merrier. Moreover, right investment
choices can make them financially capable to
live it up. Let’s have a look at few special
benefits & investment options available for
senior citizens.

6. SENIOR CITIZEN SAVINGS SCHEME
(SCSS)
INVESTMENT
OPTION
Mutual Funds
Aditya Birla Sun Life Mutual Fund
• 5 year Deposit Plan
• Can be extended by 3 years
• Deposits up to Rs. 1.5lakhs eligible for tax deduction u/s 80C
• Maximum Investment Limit – Rs. 15 lakhs per senior citizen
• Taxability: Under section 80TTB interest earned up to Rs. 50,000 p.a. from all
kinds of bank & post office deposits is exempted. Any Interest earned above this
limit is taxable as per the investor’s applicable tax slab rate
Current rate of return is
8.3% per annum
Available at all nationalized
Banks & Post Offices
Interest Payout -
Quarterly

7. PRADHAN MANTRI VAYA
VANDANA YOJANA
INVESTMENT
OPTION
Mutual Funds
Aditya Birla Sun Life Mutual Fund
• Launched in 2017 & open for investment till March 2020
• Tenure : 10 years
• Not eligible for tax deduction u/s 80C
• Maximum Investment Limit – Rs. 15 lakhs per senior citizen
• Taxability : Interest earned is taxable as per the investor’s applicable tax slab rate
Current rate of return is 8 – 8.3%
per annum depending upon the
chosen interest payout option
Available Online and Offline
through Life Insurance
Corporation of India (LIC)
Interest Payout -
Monthly, Quarterly, Half
Yearly and Annually

8. BANK FIXED DEPOSITS
INVESTMENT
OPTION
Mutual Funds
Aditya Birla Sun Life Mutual Fund
• 5 year Tax Saving FD of up to Rs.1.5 lakhs p.a. eligible for tax deduction u/s 80C
• Maximum Investment Limit – No Upper Limit
• Taxability: Under section 80TTB interest earned up to Rs. 50,000 p.a. from all kinds
of bank deposits is exempted. Any Interest earned above this limit is taxable as per
the investor’s applicable tax slab rate
Current rate of return: Differ from
bank to bank. Approx 7-7.6% p.a.
for a 5 year FD
Available at all Banks
Tenure: Flexible up to 10
years
Interest Payout -
Monthly, Quarterly, Half
Yearly and Annually

9. DEBT MUTUAL FUNDS
INVESTMENT
OPTION
Mutual Funds
Aditya Birla Sun Life Mutual Fund
• Taxability: Tax efficient returns as compared to traditional investments. Senior
citizens falling under highest income tax bracket can consider these funds for higher
post tax returns.
• Aimed at capital preservation. Regular income can be generated by opting for
systematic withdrawal plan in these funds.
Current rate of return:
Market Linked. Aim to provide tax
efficient returns
Principal is at
Low Risk
Relatively stable returns
& Provides Liquidity

10. HYBRID MUTUAL FUNDS
INVESTMENT
OPTION
Mutual Funds
Aditya Birla Sun Life Mutual Fund
• Mix of debt and equity investments. A small portion of your portfolio could be in-
vested in these funds for long term with an aim to beat rising inflation.
• They also aim to provide you regular income in form of dividend payouts. But
dividends are not assured and are subject to availability of distributable surplus.
• High net worth (HNIs) senior citizens with surplus funds and long term investment
horizon (at least 5 years) can consider investing a certain %age of their portfolio in
aggressive hybrid schemes.
• Taxability: Tax efficient returns as compared to traditional investments
Current rate of return:
Market Linked. Aim to provide tax
efficient & inflation beating returns
Principal is at
Moderate Risk
Aims at providing inflation
beating returns by investing
a portion in equities.

11. REVERSE MORTGAGE
INVESTMENT
OPTION
Mutual Funds
Aditya Birla Sun Life Mutual Fund
• Under this scheme you mortgage self owned house to the bank, and get a loan which comes to you
as regular payouts. Its aim is to provide steady income to senior citizens without taking away the
right to stay in their home.
• Rate of return: Depends upon the loan tenure which differ from lender to lender.
• Tenure: 10 to 20 years; depends on the age of borrower.
• On death, legal heirs can keep the house by repaying the loan with interest. Else, bank can sell the
house to recover the dues and pay the remaining to the legal heirs.
• Taxability: Regular payments received from lenders/banks are exempted from tax. But whenever the
property is sold by lender/borrower/legal heirs then it will be taxed accordingly.
• Lack of awareness, low payout, lack of understanding, complex process of borrowing are few
reasons for it being not very popular.

12. TAXATIONBENEFITS
Mutual Funds
Aditya Birla Sun Life Mutual Fund
• Income of up to Rs 3 lakh is non-taxable.
• For super senior citizens (over 80 year of age), income of up to Rs 5 lakh is non-taxable.
• Higher deduction of up to Rs. 50,000 under Section 80D of Income Tax Act 1961 for Health
insurance premium.
• Higher deduction of up to Rs 100,000 for senior citizens for treatment of specific diseases under
Section 80DDB.

13. GENERALBENEFITS
Mutual Funds
Aditya Birla Sun Life Mutual Fund
• Few Airlines provide 50% discount on economy fare for domestic travel to senior citizens with
Indian citizenship, who are over 60 years of age.
• Men over the age of 60, and women over the age of 58 are eligible for 40% and 50% discount
respectively on fares of all classes of all trains.
• Some municipal corporation and state governments give concession to senior citizens on bus
fare. Certain bus seats are also reserved for them.
• Certain telephone service providers give priority to senior citizens for registration of telephone
and discounts are offered on installation charges as well as monthly service charges.

14. Mutual Funds
Aditya Birla Sun Life Mutual Fund
For more details please refer the below sources:
https://economictimes.indiatimes.com/wealth/plan/here-are-all-the-benefits-available-to-senior-citizens/articleshow/58655579.cms
https://www.livemint.com/Money/QQ60Q8MWtWCfSE5QFBNO8O/How-to-get-regular-income-a er-retirement.html
The above Investment Options are general in nature and for information purposes only. Investors are
requested to consult their financial planners/advisors for more investment avenues.
So this Senior Citizen Day,
make sure to share a SMILE!
MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS, READ ALL SCHEME RELATED DOCUMENTS CAREFULLY.