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Best Investment/Money Back Plan? - Yahoo! Answers India

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Best Investment/Money Back Plan?

Hello, I am running 23 (April 1990 Born), I can invest Rs. 1000 to 2000 pm. What will be the best plan for me considering AGE and above value. I have searched and found 1. Recurring 2. NFC and 3. PPF satisfactory, However which plan suits me best ? I have recently applied for PIF spending Rs. 1775 pm. Kindly advice; Thanks in advance.
2 months ago ( 2013-02-02 08:22:58 +0000 ) Report Abuse

NEO

Best Answer - Chosen by Asker

There are many options. let me try to explain. 1. You want to save once but not monthly or periodically. Whenever you get money, you can do FD. This is not excluded for tax. No tax savings. And interest is taxable. But for period above 5 years, tax exemption is applicable. 2.Recurring Deposit This is similar to above option but difference is that, you can do it on monthly basis and amount it fixed. You can choose minimum of 1 year to any period. Once you choose, you have to make payment every month and only at the end of chosen period you will get money. Not applicable for tax. Rest of features are same as that of FD. Also referred is SIP FD. 3. NSS national Savings Scheme, supported by Post Office, is good investment planning. Tax savings. Locking period is 5 Years. Similar to Fixed deposit with 5+ years. Returns will be low to moderate 4. VPF This is good investment but for long term! You have no control on it. This will be deducted from your salary every month and you need to inform your employer to apply for VPF as it has to be done by employer (if you are an employee having PF facility). Tax exempted and hassle free if your employer approved. 5. PPF Same as VPF, but you have to take initiative to open an account (preferably SBI, not every bank can PPF account). Interest rate is good, about 8.6% or 8.8%. Tax exemption applicable. But you can withdraw money after 1012 years. You can take loan after 5 years on this amount. Minimum you have to invest 500 rupees every year. According to me, this is simple as SBI provides online banking, you can setup standing instructions. Even ICICI provides PPF account. But only 12 transactions per year. At your age this is best option in fact without any risks. 6. Mutual Funds This is risky but may have good returns. Need to do good investigation for this and apply. Few investments called as ELSS are tax exempted; you can take out money after 3/5 years. 7. Shares Final investment plan. If you want to invest here you have to watch your money. You may need to subscribe to free or paid services and check regularly. Good investment, good return and good risk.

Apart from above, recently I heard about NPS ( New Pension Scheme) from GOI. You will be able to take money
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Best Investment/Money Back Plan? - Yahoo! Answers India

back only at the retirement age. Money will be invested in share markets with fund mangers. Don't know much about this as none explain in detail. But this is really good investment. A minimum 500 per year I guess, wont count anywhere even if start with low amount.

Source(s):
research.
2 months ago ( 2013-02-02 12:15:17 +0000 )

Asker's Rating: Thanks a lot PC, Your answer is absolute and very informative and fulfilled my requirement. PC

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Other Answers (3)

A good option would be to invest through SIP (systematic investment plan) in a mutual fund. The returns are far better than NSC or PPF
2 months ago ( 2013-02-02 08:24:46 +0000 )

Guru kool If you are looking for secured investments then go for RD+ Offered by some banks like SBI, SBH etc.. It gives you a free coverage of insurance too.
2 months ago ( 2013-02-02 11:54:45 +0000 )

Sri as per your Ages you should invest in Mutual Funds (Equity ) SIP HDFC Top 200 (Growth Option)
2 months ago ( 2013-02-02 08:41:47 +0000 )

hiren

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