Where should a 66-year-old invest with a five-year horizon?

My 66-year-old aunt, who is still working at a private school, received ₹18 lakh last year from the sale of our ancestral property. She doesn't need it for three to five years. Could you suggest the best investment options to ensure growth and safety of her funds?

- Nehal Mota

-Name withheld on request

Given your aunt's age (66 years), continuous income from her teaching job, and the desire to invest ₹18 lakh for a period of three to five years with an emphasis on safety and steady growth, the following options are ideal:

1. Corporate FDs

Considering age and risk appetite, fixed deposits (FDs) are the safest option, yielding good returns for different tenures. As a woman senior citizen, the rates are higher.

Suitability: These are safe investments with higher interest rates for senior citizens.

Returns: Offer fixed returns of 7-10% depending on the tenure and institution.