If you also want to invest your money then this option is the best, no tension of losing money, you will get excellent returns.
Business News Desk,For investors troubled by the ups and downs in the stock market, there are many investment options in the market in which they can get good returns by investing their money. Here information is being given about many such investment options, in which returns are almost fixed. Besides this, investment in them also remains safe. Not only can one earn good returns on maturity, but one can also arrange for a fixed income every month while keeping the capital safe.
Bank Fixed Deposits (FDs)
Fixed Deposits (FD) are among the most preferred options. In this, the interest rate is fixed at the time of investment and investors get fixed returns. The money deposited in this has a government guarantee on deposits up to Rs 5 lakh, which makes the investment more secure.
Recurring deposits (RDs)
Good returns can be achieved by regularly depositing small amounts of money in Recurring Deposits (RD). It gives higher interest than normal savings deposits. Through RD, a habit of saving is formed and good returns are also ensured. Since it can be started with little money, it proves to be an excellent investment option even for people with low income.
Public Provident Fund (PPF)
Public Provident Fund (PPF) is a long term savings scheme. Its maturity is in 15 years which can be extended in blocks of five years. Currently, interest on investment is available at the rate of 7.1 percent per annum. Tax deductions are also available on contributions to PPF and the money received on maturity is also tax free. This makes it a great plan for retirement.
Post Office Monthly Income Scheme (POMIS)
Monthly income can be arranged through Post Office National Savings Monthly Income Account (POMIS). Some minimum amount is deposited in this and currently interest is available at the rate of 7.4 percent. This is a better option for people who want to create a source of regular income while keeping their capital safe.
RBI Floating Rate Savings Bonds
The maturity of RBI’s floating rate savings bonds is in seven years and currently the interest rate on it is 8.05 percent. In this, you can start investing with a minimum amount of Rs 1,000 and there is no limit on the maximum investment. You can invest money in this through RBI’s Retail Direct Portal.
National Savings Certificates (NSCs)
National Savings Certificates are issued by the government. Currently, interest is being given on it at the rate of 7.7 percent and the benefit of tax deductions under section 80C is available. Its maturity period is fixed and returns are also almost safe.
