Hi
My grandmother has about Rs 30000 .00 lying idle with her in cash. She has saved his money over the years and we are taking care of all her expenses.
Quite often, I suggested her to do a FD or invest in risk-free avenue so that the money will grow to some extent, but she wont listen. She has no bank account, no other formalities like PAN no etc and she niether wants any of these.
Reading lot of financial articles, I thought I should persuade and convince her. Keeping money safe in locker at house is very outdated and not sensible as it wont grow. But she is really old fashioned. Anyways, Finally she agreed but she does not want to do any formalities like opening account etc.
Can somebody advise a pure risk free investment where she does not have to go with lot of formalites? She keeps getting money like 5000 or maybe 10000 sometimes by a relative who is rich. I would want to channelise all this money into something for her own good. She is healthy and god willing will live for many years to come.
Is Kisan Vikas Patra or NSC an option? Does it require any big formalities? I think lock period is there for them. Can anyone suggest please.
Thanks
Jeet
My grandmother has about Rs 30000 .00 lying idle with her in cash. She has saved his money over the years and we are taking care of all her expenses.
Quite often, I suggested her to do a FD or invest in risk-free avenue so that the money will grow to some extent, but she wont listen. She has no bank account, no other formalities like PAN no etc and she niether wants any of these.
Reading lot of financial articles, I thought I should persuade and convince her. Keeping money safe in locker at house is very outdated and not sensible as it wont grow. But she is really old fashioned. Anyways, Finally she agreed but she does not want to do any formalities like opening account etc.
Can somebody advise a pure risk free investment where she does not have to go with lot of formalites? She keeps getting money like 5000 or maybe 10000 sometimes by a relative who is rich. I would want to channelise all this money into something for her own good. She is healthy and god willing will live for many years to come.
Is Kisan Vikas Patra or NSC an option? Does it require any big formalities? I think lock period is there for them. Can anyone suggest please.
Thanks
Jeet