When in college, you’re usually starting to welcome adulthood, and a suite of responsibilities that come with it. When welcoming this phase, it is essential to delve deep into financial responsibilities, which is why understanding the difference between savings and investments is a prerequisite.
Investing early can be a major advantage, especially because age is on your side. Over time, as you start investing extra money into high-earning schemes, you will be able to earn more gains and facilitate unforeseen expenses.
Are you looking for the right investment options to boost your savings, in college? If yes, here are some of the best investment options for you:
Liquid funds enable you to invest your money in short-term Government certificates or securities. You can withdraw money from these funds at any time, but allocating your emergency funds here is not advisable because it takes about 2 to 3 days to gain complete access to your money.
If you don’t plan to invest a lump sum amount in one go, these are the best investment avenues as you get the flexibility to invest periodically. Whenever you accumulate enough, you can go ahead and consider investing in these recurring deposits.
This is an easy option for students seeking a simple investment procedure. You can visit your post office and complete a simple application process for an investment tenor of up to 5 years. NSCs enable you to claim tax benefits under Section 80C of Income Tax Act.
While most of these options help you with investments in the long run, an Investment in Fixed Deposits can help you grow your savings furthermore. Whether you’re seeking an investment to park your emergency funds, or a stable investment avenue, a fixed deposit can fit the bill in every way.
Consider investing in Bajaj Finance Fixed Deposits, as it is one of the best investment option for youngsters, especially college students. When investing in Bajaj Finance Fixed Deposits, you can look out for high returns, stability and assured gains.
You can also choose the tenor as per your needs, and opt for the benefits from flexible payouts. Make the right choice with Bajaj Finance Fixed Deposits.
For any doubt related to investment feel free to visit Bajaj Finance FAQ page or directly call to our Customer Care representative. Visit Bajaj Finance Customer Care