Before you jump in, make sure you look at the total cost — not just the monthly interest. You have to add the interest over the entire tenure to the processing fees, which can really sneak up on you.

In India, a balance transfer is only advantageous if you’re 100% sure you can pay it off during that 3–6 month promotional window. If not, you’re actually better off with a short-term personal loan at 10–14%. It sounds higher upfront, but it usually saves you more in the long run. Always look at the APR; that's the real number that matters.

For consistent income, REITs are a good option for rent and potential value increases. Direct investment in property requires active management.

There are some other options like the Senior Citizen Saving Scheme (SCSS), debt mutual funds, and RBI bonds. Investment in rental property is also a good option that provides you with steady income. Government schemes like fixed deposits and the Post Office Monthly Income Scheme will all provide fixed returns and also be risk-free.