In India, there are numerous investment options available via government and private financial institutions that offer safety and stability. Investments in such schemes guarantee returns at maturity along with substantial interests.
Some of the safest options that you can invest in include:
Pradhan Mantri Vaya Vandana Yojana (PMVVY)
PMVVY is a Government regulated pension scheme launched back on 4th May 2017 and available till 31st March 2020. It is one of the most secure investment options for senior citizens.
The effective rate of interest ranges from 8% to 8.30% per annum. The amount you invest remains locked-in for 10 years. You can avail the returns as per preferred frequency – monthly, quarterly, half-yearly, or yearly. The scheme offers premature withdrawal only in case of a critical or terminal illness.
Mutual funds are one of the investment options that offer the highest return. As of 31 May 2019, the total number of mutual fund accounts stood at 83.2 million. One of the drawbacks of mutual funds is that they are market-linked. Hence, these are a risky investment, and you may or may not avail the returns.
Public Provident Fund (PPF)
Public Provident Fund (PPF) provides 8% rate of interest against a minimal investment of Rs. 500 per year. The lock-in period is 15 years, after which you can extend it in a block of 5 years. Premature withdrawal is only available from the 7th financial year.
Fixed deposits safest investment options that you can opt for. These are also one of the most common short-term and long-term investment schemes available. FDs give you the freedom to choose the lock-in period, unlike other schemes. You can also withdraw your investment prematurely any time against a nominal penalty fee.
Fixed deposits are the safest investment options that you can opt for. These are also one of the most common short-term and long-term investment schemes available. FDs give you the freedom to choose the lock-in period, unlike other schemes. You can also withdraw your investment prematurely any time against a nominal penalty fee.
Bajaj Finance Fixed Deposits offer the following features:
High Rate of Interest The fixed deposit interest rates can go up to 8.60%. Senior citizens can avail an additional 0.35% interest rate over the standard rate.
Convenient lock-in Periods The investment period on a fixed deposit can range from 12 to 60 months. Bajaj Finance also offers a special 15-month fixed deposit that offers 0.5% more interest than a conventional 12-month one.
Stability Bajaj Finance Fixed Deposits are rated FAAA by CRISIL and MAAA by ICRA. These ratings make your investment safe and stable.
Multiple Interest Payment Frequency
You can opt for a non-cumulative fixed deposit that offers interest payment monthly, quarterly, half-yearly, or annually. On the other hand, a cumulative fixed deposit delivers the returns after maturity.
Loan Against Fixed Deposit
Bajaj Finserv enables you to avail a Loan Against Fixed Deposit by providing only a few documents. You can avail a loan of up to 75% of your cumulative FD amount and up to 60% of your non-cumulative FD amount.
Fixed deposits are one of the safest investment options to go for owing to the above features. Calculate your returns using a fixed deposit calculator before you start investing.
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