General Safe Investment, Pls advice


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 Keeping money safe in locker at house is very outdated and not sensible as it wont grow.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.




Well-Known Member
your eagerness to beat inflation by investing your grandma's money is understandable....but

formalities like PAN, Address proof, Bank a/c number, Id proof would be there, be it KVP or NSC or MF or FD...

the other options [perhaps risk free] is going to a jeweller [reputed and credible] who has many saving scheme going on..... just an option for you to do research on. **NOT AN ABSOLUTE ADVICE** hopefully the money will manage to beat inflation.

OR let her just keep the money as it is....for her own peace of mind!

Thank you for your valuable advice.

I did not understand much about 'saving schemes' from jeweler, but possibly I can try and buy some gold jewelery with the idle cash she has got. Gold is always welcome I think and hedge against inflation. By this way, she will still have her prized possession but in form of jewellery.

I think it is a good idea, but not sure if she will agree.. but atleast I got this excellent idea from your inputs..



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