Investment tips to become rich
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.
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.
The Employees’ Provident Fund Organization or EPFO handles this retirement benefit scheme. If you work as an employee in any company or organization, then you must have contributed a part of your salary to the EPF scheme. Your company also contributes the same amount. After that the total amount is deposited with EPFO. EPFO gives you interest every year on this amount.
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 ETFs, sovereign gold bonds, gold mutual funds and digital gold as better options. 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 (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.
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. It has a maturity period of 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.