Conservation of money is of huge importance to everybody. Deciding where to to invest is a huge confusion to most of us. Lets see various instruments where one can distribute his/her assets...
- Savings account (in the bank -3.5% interest rate)
- FD - Fixed deposits (Currently banks offer around 8.5% to 9% for a term deposit of one year) - absolutely risk free. Can save tax if FD term is for 4 years.
- Life insurance (there are Unit Linked Insurances Plans too - ULIP- this gives better returns than the conventional insurance policies but contains risk)
- PPF - Public Provident fund
- NSC - National savings certificate
- Infrastructure bonds
- Mutual Funds(Can save if invested in ELSS for 3 years)
- Invest in the Stock market.
1 comment:
Though the instruments that you have mentioned for savings are universal, it is better not to put the figures on interest rates. These figures are valid only in India. Or probably in your blog, you may say so that your thoughts/tips are India specific.
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