New Delhi, Aug. 29 -- Are you a senior citizen looking for a predictable, safe income stream? That too, without taking any undue market risks. Then you can aim to combine two major investment schemes in the Senior Citizen Savings Scheme (SCSS) with the RBI Floating Rate Savings Bonds and generate meaningful income through them in a hassle-free manner.

Furthermore, a Rs.50 lakh corpus, when split between the two government-backed schemes, can currently generate about Rs.4.07 lakh a year, or approximately Rs.34,000 a month on average, before taxation. To better understand investment diversification and the returns generated, let us discuss both the schemes and their salient features in detail.

According to the most recently updated rates ...