We’ve always heard about the importance of savings, for securing our futures and ensuring a better future. However, with a steady rise in cost of living indices, juggling between expenses and savings can become quite challenging.
Setting aside some funds from your salaries each month is not enough in today’s world. There is a need to multiply your savings, so you can cater to your expenses. Hence, investments are a prerequisite for every salaried person.
Here’s a look at some rewarding investment options that can help you grow your money effectively:
Issued by the National Highway Authority of India (NHAI) and Power Finance Corporation (PFC), these investment options by the Government can be used to build the country’s infrastructure. This money is locked for 15 years and you can get high returns each year. You can get surplus money after 15 years, and enjoy tax savings too!
This mostly ignored investment option is a defined contribution-based pension system launched by Government of India. You can contribute regularly towards your pension account during your working life. Hence, when you retire, you can withdraw a lump sum amount of your corpus and divert the remaining to buy an annuity, which helps you secure regular income post retirement.
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