Best Investment Options: If you have begun to make money, you must invest if you want to ensure your financial future. It’s advisable to get started as soon as possible because financial freedom will come sooner if you start financial planning early. There isn’t a better way to begin investing than at the beginning of the year. If you already invest, you should make a commitment to raise your amount in the coming year.
Investing Opportunities to Seize in the New Year
You can begin investing in schemes like Kisan Vikas Patra (KVP), Post Office FD, sometimes called National Savings Time Deposit Account, and Systematic Investment Plan (SIP) in the new year. Although FD and KVP offer assured returns, SIP is dependent on the market; yet, in recent years, it has become one of the most effective investment strategies for capital growth.
Post Office FD
You might opt for a post office FD if you want to double your money. Currently, the scheme offers 7.5 percent interest on a five-year fixed deposit. Your money will more than double if you invest in this for five years and then extend the FD for a further five, or ten years. If you invest Rs 1 lakh in it, the post office calculator says that after 10 years at a 7.5% interest rate, this cash will become Rs 2,10,235.
Kisan Vikas Patra
Another programme like this is Kisan Vikas Patra (KVP), which guarantees to double your money within a predetermined time frame. The Post Office Kisan Vikas Patra Scheme allows you to make multiples of Rs 100 investments, with a minimum of Rs 1000. The maximum investment is unrestricted.
One advantage of this method is that it allows for the opening of many accounts. In addition, you have the choice to open a joint or single account. You will receive interest at the rate of 7.5% under this Post Office plan. Your investment is doubled in just 115 months using this strategy.
Systematic Investment Plan
A market-linked scheme is the Systematic Investment Plan, or SIP for short. When the money will double is not guaranteed. However, the majority of experts think that over time, SIP offers superior returns than other plans. Over the past few years, SIPs have yielded an average return of 12 percent.
A lump sum investment of Rs. 1,00,000 made through a Systematic Investment Plan (SIP) will nearly double to Rs. 1,97,382 in 6 years at a return of 12%. You will receive Rs 2,21,068 if you remove it after seven years. You can also begin a fixed-amount monthly SIP if you’d like.
If you invest Rs 2000 every month, you will invest a total of Rs 2,40,000 in ten years. At a rate of twelve percent, you will receive around Rs 4,64,678 at the end of the ten years.
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