INSUBCONTINENT EXCLUSIVE:
Aggressive investors can invest in equities, suggest financial experts.New Year is considered as a time to start afresh
People often make financial resolutions on the eve of New Year to make their coming year better
For people looking to make money in 2019, there are several investment avenues available in the market
Aggressive investors can invest in equities, suggest financial experts
However, people who are looking to make safe returns can invest in fixed income instruments- such as fixed deposits (FDs), recurring
deposits (FDs) are secure investment instruments that offer higher interest rates than deposits in savings accounts
The returns are fixed across predetermined, specific periods of time
Recurring deposits (RDs): Recurring Deposit (RD) is a kind of term deposit under which one needs to deposit a fixed amount at fixed interval
Public Provident Fund (PPF): PPF offers an investment avenue with decent returns coupled with income tax benefits
PPF comes under the exempt, exempt, exempt (EEE) category of tax status
This means that returns, maturity amount and interest income are exempt from income tax
Deposits qualify for deduction from income under Section 80C of Income Tax Act.4
National Savings Certificates (NSCs): NSC certificates can be purchased from post offices
Deposits in the National Savings Certificates also qualify for deduction under Section 80C of the Income Tax Act
has a maturity period of 5 years
The minimum amount required to set up a monthly income account is Rs 1,500
