Investments are made to multiply the hard earned money. Service and business class people, both try to invest in different ventures, policies and plans in order to obtain the desired monetary results.
Out of various best investment plans there are some major ones listed below-
PPF i.e. Public Provident Fund
The people who are associated to the service class or own a sole proprietorship business can consider PPF as the best investment plans. There are no rules or regulations which have to be studied before hand in deep before obtaining the type of fund option. A basic know how is required by the person and the government firms provide them at a cost. Every year the value increases and the total sum are evaluated. There is market link by which the rate of interest will change any how so the person remains tension free after investing in PPF. Actually PPF are almost 99% secure because they are operated by the government of India.
Benefits
- You avail tax redemption
- The interest and maturity amount is not integrated in the income tax slab
- No loan hassles, court attachments or the creditors
NSC i.e. National Savings Certificate
It is a very popular certificate which is mostly gained by the rural civilians. The minimum investment of Rs 100 is acceptable and there is an option of 5 years or 10 years period for the maturity of the certificate. Every year rate of interest alters depending upon the budget and economy of the country. According to a rate of interest, 100 INR is reevaluated at 8.5% for atleast 5 years and for 10 years the rate of interest is 8.8%.
Each year Indian government fixes a rate of Interest of PPF and NSC. However, this has been regarded as the best investment plans for the people who are considered in the poverty section.
SCCS i.e. Senior Citizen Savings Scheme
This has gained consideration as the best investment plans for those who are above 60 years of age. The rate of interest for the senior citizen savings scheme is almost 9.2% in current period. So if you are planning to gain better returns by the 5 years of span, then you can invest in this after your retirement.
Benefits
- Tax savings under section 80C applicable
- High interest rate given to the SCCS holder
- Interest is paid quarterly if liquidity issues prevail
Hence, this may be known for years as a best investment plans but now people are losing interest because of the taxation issues. Interest which is received quarterly or after a certain said period is integrated in the tax slab
MMF i.e. Money Market Funds
This can be said as the short term investment provision because they offer liquidity. As per the savings account, the MMF is giving higher interest to the account holder. Experts advise people to buy the fund from the market or the online sources for availing maximum benefits in shortest time period. Even public and private banks are giving the Policies and Best Investment Plans in which money market funds are offered.
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