An essential part of financial planning is investment planning. Apart from being beneficial for your investment portfolio, it offers long-term security to the investor. In these uncertain times, everyone wants to invest in order to gain maximum financial returns without the risk of losing money. Therefore, investing your hard-earned money in the right plan is crucial as it helps you to beat inflation, fulfil your financial goals, and help stabilise the financial future.
The best investment plans in India are financial products that offer an opportunity for you to create wealth for future use and meet your financial goals by investing periodically in different investment plans, funds, and schemes. In addition, these best investment plans in Indiahelp in inculcating the habit of disciplined investment among investors in order to help them achieve their future financial objectives.
You can find numerous options or plans to invest your money in this competitive market. The best investment plan in India offers long-term sustainable returns, capital appreciation, and tax-saving benefits. You can even use the online investment calculator to compare different plans available. Here is a list of some of the best investment plans in India that you can consider:
Mutual Funds
It is a type of investment plan that works by collecting money from different investors and investing the sum into some company’s stocks or bonds. Mutual funds are shared by thousands of investors and are managed with the motive of earning the highest possible return. It offers a diversified investment option to invest in any or multiple assets. With the mutual fund, you can earn a handsome return even with the smallest deposits. Therefore, it is considered the safest and the best investment plan in India for beginners.
Unit Linked Insurance Plan
ULIPs, or unit-linked insurance plans, are considered one of the best investment plans in India because these plans offer both life insurance as well as investment benefits to the investors. Therefore, you get dual benefits while investing in ULIPs. A part of the premium is allocated to a variety of funds, and the remaining portion of the amount is used for insurance coverage. Not just this, ULIPs even offer the option to move your money between high-risk, medium and low-risk investment options.
Bonds
Bonds are certificates that lend money to the issuer at a specified rate of interest. The interest on the bond can either be paid regularly or at maturity. Alternatively, you can also sell the bond before expiry.
Senior Citizen Saving Scheme
A Senior Citizen Savings Scheme is undoubtedly the most preferred investment option for every retiree. This investment scheme is specifically designed for senior citizens above the age of 60 and can be availed from banks or post offices. The tenure of senior citizen savings scheme is 5 years, which can be extended for up to 3 years on the maturity of the scheme.
The upper limit for this plan is 15 lakhs, and one can easily open more than one account. The interest rate is completely taxable and is paid on a quarterly basis. It is undoubtedly the best investment plan in India for senior citizens.
Fixed Deposits
Investing in a fixed deposit is always a secured and the most preferred investment choice. These investment options are offered by banks and NBFCs. Fixed deposits are also known as term deposits, as the deposits can be made for a higher interest rate, and the amount can be invested for a fixed term varying from 7 days to 10 years at a fixed rate of interest. Moreover, once the money is invested at a fixed deposit, you can only withdraw it at the maturity date. Therefore, these deposits are one of the safest investment options.
Are you confused about how to choose the best investment plan in India for yourself? Worry not! Here is a list of some of the ways in which you can choose the best investment plan in India for yourself:
- Look at your financial objectives and need to choose the best investment plan in India for you.
- Build a solid strategy by including the appropriate insurance and investment plans that support your objectives.
- To attain each objective, consider your investment tenure.
- Review the various fees associated with the various investment plans.
- Compare different plans by using the investment calculator.
- Make a portfolio that is diverse. This means that you should invest in a variety of insurance policies and investment plans rather than just one single investment plan.
- You must keep reviewing your investment plans on a regular basis. Feel free to use an investment calculator to make your work easy.
Now that you are aware of the necessity and various investment plans, you can find the ideal investment plan for yourself easily.