Safe investment with high returns in India
If you are someone looking out for safe investment options, then listed here are some of the best investment plans:
Public Provident Fund (PPF):
The Public Provident Fund is one of the most popular investments available, it offers fund protection and tax-free interest. PPF is managed by the government of India and has a tenure of 15 years and can be extended in blocks of 5 years. You can invest a minimum of Rs 500 and a maximum of Rs 1.5 lakh, which you can either invest every month or deposit a lump sum. A PPF account can be opened at any nationalised bank, a post office and few private banks selected by the government.
Bank fixed deposit (FD):
FD is comparatively a safer choice among other investments in India. It offers higher returns to investors but a slightly higher return for senior citizens and a 5-year FD also comes with tax benefits. But FDs do come with a lock-in period. And as per the need, one can opt for monthly, quarterly, half-yearly, yearly or cumulative interest payout.
National Pension System (NPS):
National Pension System (NPS) is a long term retirement scheme by the government that offers high returns because it combines investments in liquid funds, fixed deposits, and corporate bonds and accordingly the rate of interest will be applicable. You will be paid an annuity which is a fixed sum after retirement. Although there are tax implications on withdrawal and monthly pensions, 40% of the maturity proceeds are exempted from the income tax.
Recurring Deposits (RD):
A Recurring Deposit (RD) is offered by Indian banks that allow you to make regular deposits and earn returns on them. They are an ideal investment-cum-saving instrument. The interest rates differ from various banks however they are risk-free and the period varies from 6 months to 10 years.
Investing in gold is a traditional investment. You can purchase gold jewellery, coins, and bars. Apart from purchasing gold, you can also own gold via paper gold through ETFs or sovereign gold bonds which offer great liquidity and can be held in electronic format.
Investing in Mutual funds is not advisable for beginners unless you have a good knowledge of the share market. It is best to invest with the help of a qualified expert to invest on your behalf. It is not risk-free and a share market crash can wipe out your savings completely. But it can provide great returns to the investors over a long period of time if invested and managed wisely by a financial adviser.
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"The thumb rule for retirement planning is - the earlier you start, the more you save. However, with age, your priorities change too. So, you need to factor in the cost of living in the present vis- a -vis future."
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