BEST SAVING SCHEMES

These days everyone is looking for high return investments options in India. While there are several investment plans, one can choose high return investment options based on tenure, risk appetite and liquidity and taxation point of view. All investments should be done with specific financial goals in mind. The government, banks and financial companies all offer various savings schemes where in people can invest their money for a specific period of time and earn periodic returns on their investments. The best investment schemes that will make sure you have sufficient savings for future financial needs.

1: Fixed Deposits (FD)

Fixed deposits are the best safest and also most hassle free investment option where people can deposit a fixed sum of money for a specific period of time and will also earn interest at a fixed rate of return. Most of the banks and financial companies offers FDs at various returns staring at around 7% rate of interest. The advantage of FD investment is that anyone can fix as low as Rs 25000 and also can choose the tenurity. All the banks and NBFCs offer investment in fixed deposits ranging from 7 days to 10 years. Here there is also a option of choosing the frequency of interest pay out from your FD depending upon your income requirements. It can be monthly, quarterly, half yearly or yearly.

2: Personal provident Fund (PPF)

This is a government backed long term saving scheme that is completely tax free investment. The amount of money deposited in PPF is available as deduction under section 80C of income tax act. The interest earned on PPF is also not taxable. PPF may be opened in a bank or post office where the money Read more...