Who does not want to be rich and earn millions in their life? Who doesn't want to become successful in life? For a happy and secured future, all you need to do is right planning at right time. These two things actually make a big difference in your life.
If proper planning and savings are made on time, then a coarse fund can be prepared. Most people want a guarantee of better returns with a safe deposit. However, where to invest money is the toughest thing to decide. You have to choose better options for your financial planning. Today we are telling you 5 such options, where your money will stay safe and give better returns. In these options, you only have to start with 500 rupees.
Five easy ways to become rich
Public provident fund
Public Provident Fund (PPF) is a better investment option for the long term. PPF is currently receiving compounding interest of 7.1 per cent annually. This is because it is a long-term investment. A maximum investment of 1.5 lakh rupees can be made annually in PPF. The deduction of the amount deposited in the PPF account can be claimed in section 80C of the Income Tax Act. The interest received on this is completely tax free. Wealth tax is not to be paid on PPF deposits.
Sukanya Samriddhi Yojana
Sukanya Samriddhi Yojana is a government scheme. The money invested in this will be absolutely safe. Here, you can open an account for 250 rupees. Customers also get the benefit of tax exemption in SSY. You can open an account in your daughter's name. Interest is calculated on a compound basis, which gives a slightly higher return. Minimum 1000 rupees and maximum 1.5 lakh rupees can be invested every year.
Mutual Fund
Anyone can invest in mutual funds. You can earn 2 lakh rupees at an interest rate of 10 percent on a monthly investment of 500 rupees over a period of 15 years. You can also increase investment in it according to your needs. Apart from this, you can earn Rs 1.10 lakh for an investment of Rs 90,000. You can also buy it online.
National Savings Certificate
NSC is a popular scheme which is run by the post office. You can buy this certificate for 100 rupees, 500 rupees, 1000 rupees and 5000 rupees. The investment period of NSC is 5 years and at this time interest is being paid at the rate of 6.8 percent. Along with this, there is also tax exemption under Sector 80C.
Post office Savings Account
You can also open a savings account in the post office to save money. Here, you will get interest at the rate of 4 percent. Apart from this, your money will also be safe. If you get an interest of up to 10 thousand rupees in the post office, then it remains tax free.
