Investment Options: Better to invest upfront. But many do not know how to save and invest money. Such people can choose these best investment opportunities.
Every parent’s goal is to give their children a better future. A large amount of money is needed to meet the future needs of the children and for the education of the children.
Better to invest in advance for that. But many do not know how to save and invest money. Such people can choose these best investment opportunities.
National Savings Certificate (NSC) : National Savings Certificate (NSC) is one of the popular savings schemes. It offers tax benefits to investors. It currently offers an interest rate of 7 percent to investors. There is no maximum investment limit. Minimum investment is Rs.100. Deposits up to Rs.1.50 lakh in a financial year can avail tax deduction under Section 80C.
Recurring and Fixed Deposits: Recurring Deposits (RD), Fixed Deposits (FD) are low-risk investments that provide consistent returns. Although they offer lower returns compared to market related investments, they are safer. They are ideal for investing in children’s future.
Sovereign Gold Bonds (SGB) : One can invest in Sovereign Gold Bonds to get stable returns without incurring losses due to volatile markets. They are an excellent alternative to physical gold. Investing in gold can be done through sovereign gold bonds or gold exchange-traded funds.
Sukanya Samriddhi Yojana: Central Government has launched Sukanya Samriddhi Yojana to shape the future of girl child in India. Sukanya Samriddhi account can be opened in any post office or bank till the daughter reaches 10 years of age. A minimum deposit of Rs.1000 and a maximum of Rs.1.5 lakh can be made in this scheme.
Public Provident Fund (PPF) : Investing in a Public Provident Fund with a lock-in period of 15 years is a good long-term investment. Tax can be saved under Section 80C. Provides tax exemption up to Rs.1.5 lakh in a financial year. People who invest in this can deposit from a minimum of Rs.500 to a maximum of Rs.1.5 lakh in a financial year. Currently 7.1 percent interest is available.
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