When it comes to investing your hard-earned money, a number of investment options are taken into account where capital security and better returns are most important. Investors are going through challenging times in the current corona crisis. Life was easy before COVID-19. Your personal investment strategy has changed over the past few months. Earlier investors were in a mood to take risks, but, at the moment, safe investments are taken care of by everyone. What are the best investment options you have if you are looking for guaranteed returns right now? Know here
(1) Voluntary Provident Fund (VPF):
Voluntary Provident Fund (VPF) is an excellent investment option for salaried. This scheme is part of the Employees Provident Fund. It not only helps in getting higher returns but also as a tax-saving instrument. The government has reduced the EPF contribution limit of basic pay to 10% by 31st August 2020 to keep more money in the hands of the people because of the present crisis.
(2) Public Provident Fund (PPF):
Public Provident Fund or PPF is one of the best risk-free investment options. Here not only keeps your money safe, but also, 100% tax-free returns are guaranteed. This is a great option to meet long-term financial goals. PPF accounts can be easily opened in banks and post offices across the country. You can start investing in PPF with an amount of less than Rs 500.
(3) Fixed Deposit:
Fixed Deposit (FD) is a popular investment instrument for many risk investors. It is popular for savings account interest rate, capital security, easy cash, and assured returns. For 7 days to 10 years of tenure, it gets an interest rate of between 3 and 9%.
(4) National Savings Letter:
Like PPF, The National Savings Certificate (NSC) is also a safe, low-risk investment option that is also better as a tax-saving instrument. It is a government-backed scheme that comes with a maturity period of 5 years. You can buy NSC from your nearby post office. The current rate of interest on NSC is 6.8%, and interest is compounded annually.
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