Every investor wants his money to be invested in a safe place. An investor is always looking for a safe investment option. The expert also advises that investors should always choose options where there are good chances of returns and low risk. We are talking about some schemes and funds where you can get good returns when investing.
Public Provident Fund (PPF): This investment is better for the long term. The return and maturity on it are amount tax-free. At the same time, the investment made therein is tax-free under section 80C of the Income Tax Act. It can invest a maximum of Rs 1.5 lakh a year. Its maturity period is 15 years. PPF account can be opened in any bank and post office.
National Savings Certificate (NSC): National Savings Certificate can be taken from the Post Office. It is a maturity in 5 years. For example, if you buy an NSC certificate of Rs 100, you will get Rs 146.93 after five years. The benefits of this are exempted under section 80C of the Income Tax Act.
Fixed Deposit (FD): This is the most popular investment option among investors. The rate of interest on FD is decided according to its duration. Big banks like SBI, HDFC, ICICI, YES BANK, and KOTAK MAHINDRA offer FD facilities. Small finance banks give more returns on FD. Apart from banks, investment can also open FD accounts in the post office. Banks usually pay interest from 3.5% to 7.5% on fixed deposits.
Kisan Vikas Patra (KVP): Kisan Vikas Patra can be purchased from the post office. KVP is sure in 2.5 years.
Recurring Deposit (RD): Recurring deposit accounts can be opened in banks and post offices. There is a periodic investment in recurring deposits. It helps customers make small and regular savings. However, it does not get any benefit on tax.
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