If you too are dreaming of becoming rich quickly by investing your money in different places, then this news is for you. Today we will tell you about the ways where investing will fulfill your dream of becoming rich. This will not only give you better returns but also get tax exemption. Let’s know what are those ways…
investing in mutual funds
SBI Mutual Fund is the largest mutual fund company in the country. It runs more than 100 mutual fund schemes. These days people are entering into mutual funds in large numbers. Through this, you can invest money not only in the stock market, but also in debt, gold and commodities. If you want to invest for five, seven or ten years or even more, there will be other mutual funds for that. If you are investing for a short term, you can choose debt funds or liquid funds. If you are investing for the long term, then equity mutual funds will be right.
Invest in Gold too
Gold is a reliable option for investment in India. For years people invest their savings in gold. Those investing in gold are choosing Paper Gold, Gold ETF, Sovereign Gold Bond, Gold Mutual Fund and Digital Gold as a better option. By investing in gold through these mediums, it is easy to buy and sell gold. At the same time, you do not even have to worry about the safety of gold. You also get better return on investment.
Post Office Monthly Income Scheme
Post Office Monthly Income Scheme (POMIS) is a better investment option for the common man. This gives an opportunity to earn monthly. Also, the returns are guaranteed, and your money grows according to the fixed interest. According to the information, it is getting interest at the rate of 6.6 percent per annum. If you want to invest in this scheme, then you can invest from 1500 to 4.5 lakh rupees. On the other hand, if you are planning to invest under a joint account, then its limit is Rs 9 lakh.
National Pension System
The National Pension System (NPS) is managed by the Pension Fund Regulatory and Development Authority (PFRDA). This is a better option for retirement planning, through which you can arrange your monthly pension through investment. Along with this, lump sum fund is also available. Here your investments are put in FDs, Equity, Corporate Bonds, Government Funds and Liquid Funds. Investments made in this can also take advantage of tax exemption under section 80C of income tax.
public provident fund
Public Provident Fund (PPF) is a long term investment. It is considered to be the most popular means of investment in India. You can open a PPF account by visiting your nearest bank or post office. The maturity period in this is 15 years. This account can be opened with Rs 500 and the maximum amount that can be deposited in a financial year is Rs 1.5 lakh. It can be extended further for another 5 to 5 years. PPF account is currently getting interest at the rate of 7.9% per annum. The special thing is that PPF is 100% debt instrument, that is, its entire money is invested in bonds etc. So it is completely safe.
fixed deposit
Bank Fixed Deposit (FD) is a very popular medium of investment in India. Because in this you not only get good returns but also save tax. FD account can be opened in any bank or post office. It has the option of investing from 7 days to 10 years. In this, your money gets deposited at a fixed interest. It has been kept in the low risk investment category, where the risk is very low. Most banks are giving interest between 6-8 percent on 5-year FDs. Not only this, there is no fixed date when to deposit money in PPF account. You can deposit money in PPF monthly, quarterly, half yearly and annually.
invest in shares
The stock market is buzzing these days. Investors are getting rich due to the mad movement of the market. In such a situation, if you also want to invest in the stock market, then this is a good opportunity for you to enter. However, investing directly in stocks is not easy. Only online investors can trade themselves. Whereas, the services of a broker will have to be taken offline. Discount brokers only trade and sell shares as per your orders. There is no guarantee of returns in this. Choosing the right stocks is a difficult task. Along with this, it is important to buy the stock at the right time and exit at the right time.