This is a perfect section for you if you are interested in enhancing your knowledge about Financial Matters. A few tips and tricks about Investing, Shares, Mutual Funds and Money Saving Schemes.
ImageSuperannuation fund

If you are working for an employer that offers you a superannuation fund, be sure to join it. The investment amount is normally deducted from your salary.

However the tax benefit is applicable only to the recognised funds.

NSC and bank fixed deposits

As we said before PPF is the best investment in terms of safety and returns. However, its main drawback is that the investment has a lock-in of 15 years. Moreover you must keep on contributing to PPF every year.

If you are not happy with these disadvantages, then you can opt for NSC (National Savings Certificate) and Bank FDs. Bank FDs have a lock-in period of 5 years and the minimum deposit amount varies from bank to bank.

NSCs are available at local post office and have an interest rate of 8%. The minimum amount that you can start investing from is Rs 100. The lock-in period is 6 years. However, the drawback is that if you withdraw the investment amount before maturity, you end up paying penalty.
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