PO MIS Matured : Will it be good idea to put this under FD?

[Rahul]

My father had invested Rs. 600000 under Post office - joint MIS with my Mother. Now it's matured. What would be best option to reinvest this amount, as FDs now a days have good interest rate. Will it be good idea to put this under FD where my father can yield better return than 8%. Or please suggest better options.

Thanks!
Medhu

If your father is a senior citizen, I would recommend you to go for Senior Citizen Savings Scheme (SCSS).