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Gone are the days when only saving money would be enough to support yourself and your dependent family members in the future. These days, as soon as you become financially independent, you should start making investments. Only if you make smart investments, you will be able to have enough returns to support your near and dear ones in the future, and also you will not have to compromise your lifestyle. All that you need to do is choose the best investment option available in the market. So, let us check out some of the best investment options in India that you can opt for.
Commonly called PPF, Public Provident Fund is one of the safe investment options in India that you can put money into without a second thought. You can open a PPF account either in a Post Office or a bank. The money you invest in a PPF account will be locked in for a period of 15 years. The best part is the compound interest that you earn in this investment option on the accumulated money. After the completion of 15 years, you can choose to extend the period of the account for the next five years. However, one feature of the investment option that many people may call its drawback also is that you can withdraw the invested amount only after the completion of the 6th year of the account. On the balance of the PPF account, the account holder can take a loan. The interest you earn on your PPF is tax-free. The current interest rate on the PPF account is 7.60%. The minimum premium amount that you can invest in a year is INR 500 and it can go up to INR 1.5 lakh.
Bank Fixed Deposits, sometimes known as FDs, have long been regarded as among the greatest and most popular types of investments. As the name implies, after the investment’s term is up, FDs give fixed returns. Depending on the bank’s policies, the earnings may be paid monthly, quarterly, or yearly. Whether the FD will provide cumulative or non-cumulative investment alternatives also depends on the bank. It is a set investment for a specific amount of time, and depending on your desire, you can make the payment online or in person at a bank. For the regular citizens of India, the FD interest rate is 6.50%; while for the senior citizens, it is 7%, for a period of 1 year. The tenure of FDs ranges from seven days to up to 10 years. When you are opening an FD account, you can have high returns on a surplus fund. You can very easily renew a Bank Fixed Deposit account. There are in fact some banks that provide overdraft facilities against FDs. Even if the market is not stable, you will surely not have to worry about the investment you made in an FD account.
You will find most of the people calling it NPS. It is also one of the most sought-after and one of the best investment plans in India. The government provides NPS, which offers pension-related solutions. Government securities, bonds, stock, and a number of other investment alternatives that suit the investor’s preferences are all included in the fund’s holdings. There are two kinds of NPS: active and auto. Investors can choose the assets they want to invest in when choosing the active option. The money is automatically invested in a variety of assets when the auto option is selected. The scheme matures as the investor turns 60; however, the lock-in period totally depends on the age of the investor. The accumulated interest in a National Pension Scheme is tax-free.
Read More: Best Investment Plans for a Girl Child in India.
You should choose a mutual fund if you are the type of person who likes to take on risk while also seeking bigger rewards. In India, it is the finest alternative for high-return investments, although it is based on the market. When you invest money in mutual funds, it is placed in a variety of financial products, including stocks, debt, money market funds, and so forth. The returns are based on how well the funds’ markets perform. Despite having significantly more risk than the other investing alternatives available in India, mutual funds also provide larger returns. Debt Mutual Funds and Equity Mutual Funds are the mutual funds’ two main investment options. When you will invest your money in a mutual fund, you will be associated with an allocated fund manager. The fund manager will help you to go for a lucrative investment for the scheme.
These are some of the best investment options in India for you. Apart from these, there are so many other options that you can choose from. While you are investing your money and expecting returns from them, you also must consider life insurance policies. You can find them online. So, wait no more and choose your preferred investment option today.
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PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
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