500 rupees, if you think then it seems very less. But, if you invest, then these 500 will take you towards prosperity tomorrow. If you have an investment plan, then there are 5 such options, where your money will not only be safe but will also get better returns. This investment mantra is a special way to become rich. Through this you can earn more money in less time.
Anyone can invest in Mutual Funds. You start a monthly investment of Rs 500 in it for 15 years. You can earn up to Rs 2 lakh with an interest of 10% per annum. You can also increase the investment in it according to the needs. Apart from this, for an investment of Rs 90,000, you can earn Rs 1.10 lakh. You can also invest in it online.
Public Provident Fund (PPF) is a better investment option for long term. At present, compounding interest of 7.1 percent is being received annually on investment in PPF. This is because it is a long term investment. A maximum of Rs 1.5 lakh can be invested in PPF annually. The amount deposited in the PPF account can be claimed as deduction under section 80C of the Income Tax Act. The interest earned on this is completely tax free. Wealth tax is also not to be paid on PPF deposits.
Sukanya Samriddhi Yojana is a government scheme. The money invested in it is absolutely safe. In this you can open an account for Rs.250. In SSY, customers also get the benefit of tax exemption. You can open an account in the name of your daughter. The interest is calculated on a compound basis, which gives slightly higher returns. Minimum Rs 1000 and maximum Rs 1.5 lakh can be invested every year.
National Savings Certificate
NSC is a popular scheme which is run by the post office. You can buy this certificate for Rs 100, Rs 500, Rs 1000 and Rs 5000. The investment period of NSC is 5 years and at present it is getting interest at the rate of 6.8 percent. Along with this, tax exemption is also available under Sector 80C.
post office savings account
You can also open a savings account in the post office to save money. In this, you get interest at the rate of 4 percent. Apart from this, your money is also safe. If you get interest up to 10 thousand rupees in the post office, then it remains tax free.