Smart investments can always help individuals secure their future. With the growing financial literacy of the country, a large number of people are looking to invest their hard-earned money to obtain profitable returns. The investment returns can be really helpful in meeting short and long term financial goals. Nowadays, with the progress in the finance sector, there are a lot of investment options available in the market. However, individuals often get confused regarding which investment option they should settle for. To make things easier for them, we are going to have a look at some of the finest investment options available in the market for beginners:
Fixed deposits (FDs) -Fixed deposits are one of the safest investment options. Fixed deposits (FDs) are provided by Banks and Non-banking financial companies (NBFCs) and you get a fixed interest rate on the amount at fixed intervals. Short-term investment plans along with fixed deposits can protect your funds against inflation.
Mutual funds – A mutual fund is an investment vehicle that consists of a pool of money collected from several investors and invested in stocks and bonds of various companies to obtain returns. Investing in mutual funds is slightly less risky than investing in stocks.
Stocks– Investing in stocks basically means to purchase shares of a company. You can trade these shares electronically in the Stock market. It is one easiest and the most lucrative investment option, but the risk associated with investing in stocks is very high.
Public Provident Fund (PPF) – It is one of the most reliable investment plans in the country. By investing in PPF, you can earn interest rate annually. The minimum amount that you can invest in PPF is Rs. 500. The PPF comes for a term of 15 years, however, you can opt for partial withdrawals at various intervals. The rate of interest in case PPF is prescribed by government from time to time.
Senior Citizens’ Saving Scheme (SCSS) – This investment plan is specifically meant for senior citizens who are above 60 years of age. This investment plan is designed to meet the requirements of the retired citizens. Similar to that of PPF, this investment option also pays a high and steady interest rate as prescribed by the government from time to time.
Now that you are well aware of some of the best investment options, ensure that you make the most of it when you are selecting an investment option for yourself. Nowadays, you can use a finance app to make smart investments. One such finance app that can help you make right investments is the Finserv MARKETS app. You can easily invest in mutual funds, fixed deposits, etc. by using this app. The app is easy to navigate and has a smooth interface. The transactions made are completely secure and the customer service is extremely reliable. You can also keep a track of your investments by using this app. While making any investment make sure that you evaluate the risk associated with it. In case of any query, you should consult a financial advisor. This will help you make a well-informed decision.