Quick Answer: Which Saving Scheme Is Best?

Which scheme is best in post office?

Eight post office saving schemes, including fixed deposits, and public provident fund accounts, offer interest rates between 6.6% and 8.3%.Kisan Vikas Patra (KVP) …

15 year Public Provident Fund Account (PPF) …

National Savings Certificates (NSC) …

Sukanya Samriddhi Accounts.

Senior Citizen Savings Scheme (SCSS)More items…•.

What’s the safest bank to put your money in?

Here are the seven safest banks in America to deposit money:Wells Fargo & CompanyWells Fargo & Company (NYSE:WFC) is the undisputed safest bank in America, now that JP Morgan Chase & Co. … JP Morgan Chase & Co.More items…•

Which is better Bank FD or Post Office FD?

Post office time deposits The interest earned is fully taxable and to be added to one’s ‘Income from other sources’ as in the case of bank FD. There is complete safety as the entire amount in post office time deposit is backed by a government guarantee. Even the interest rate is higher than bank FD in most cases.

Which investments have the best returns?

Overview: Best low-risk investments in 2020High-yield savings accounts. While not technically an investment, savings accounts offer a modest return on your money. … Savings bonds. … Certificates of deposit. … Money market funds. … Treasury bills, notes, bonds and TIPS. … Corporate bonds. … Dividend-paying stocks. … Preferred stock.

What is the safest investment?

U.S. government bills, notes, and bonds, also known as Treasuries, are considered the safest investments in the world and are backed by the government. Brokers sell these investments in $100 increments, or you can buy them yourself at Treasury Direct.

How can I double my money in 5 years?

To use the Rule of 72, divide the number 72 by an investment’s expected annual return. The result is the number of years it will take, roughly, to double your money.

How can I be rich?

How to Become Rich in 10 Easy WaysAdd Value. Something many self-made wealthy people have in common is that they are valuable in specific ways. … Tax Yourself. The concept of saving money is not a new one. … Create a Plan and Follow It. … Invest. … Start a Business. … Be Grateful. … Develop Patience. … Educate Yourself.More items…•

How can I double my money?

Here are some best 5 ways to double your money fast.Stock Market. Investments made in the stock market have always given a high rate of returns to people. … Mutual Funds (MFs) … National Savings Certificates. … Corporate Deposits/Non-Convertible Debentures (NCD) … Kisan Vikas Patra (KVP)

How can I earn 50 lakhs in 5 years?

How Can You make Rs. 50 lakh in 5 years?1.HDFC Small Cap Fund.2.L&T Emerging Businesses Fund.Parag Parikh Long Term Equity Fund.Mirae Asset India Equity Fund.The Moderate Investor.1.Invesco India Contra Fund.Axis Focused 25 Fund.3.Principal Focused Multicap Growth Fund.More items…•

Which bank is giving highest interest rate?

Type of the Depositor: All the banks in India offer a comparatively higher interest rate on senior citizens’ fixed deposits….Fixed Deposit Interest Rates 2020.BanksFD Interest RatesTenureICICI Bank3.25% – 6.25%7 days to 10 yearsAxis Bank3.50% – 6.75%7 days to 10 yearsIDFC First Bank4.00% – 7.75%7 days to 10 years4 more rows

How many years FD will double?

To know the time duration in which your FD amount will get doubled, you have to divide 72 with the highest rate. For example, if the highest rate on FD is 7.50%, then the number of years in which your FD will get doubled is 72/7.50= 9.60. Thus, it will take 10 years for your FD to get doubled.

What are the 4 types of investments?

There are four main investment types, or asset classes, that you can choose from, each with distinct characteristics, risks and benefits.Growth investments. … Shares. … Property. … Defensive investments. … Cash. … Fixed interest.

Which company FD is best?

10 Top Performing Company Fixed DepositsTop 10 Company FD ratesCompanyCRISIL/ICRA RatingMaximum FD rate(per annum)ICICI Home Finance Ltd.CRISIL FAAA7.00%Mahindra Finance Ltd.CRISIL FAAA7.80%Shriram Transport Finance LtdCRISIL FAAA8.50%5 more rows

Which scheme has highest interest rate?

Top 5 interest rates on Tax-saving Bank FDs.Unit Linked Insurance Plan (ULIP)Equity Linked Savings Scheme (ELSS)Sukanya Samriddhi Yojana.National Pension Scheme (NPS)Pradhan Mantri Vaya Vandhana Yojana (PMVVY)Senior Citizen Saving Scheme (SCSS)Public Provident Fund :More items…

Which investment is best for monthly income?

Here are the best investment options to help you get a regular income:NBFC Fixed Deposit. … Post Office Monthly Income Scheme. … Senior Citizen Savings Scheme. … Long-term Government Bond. … Equity Share Dividend. … Annuity. … Mutual Fund Monthly Income Plan.

What is the interest of 1 lakh in post office?

Highlights of Post Office FD Interest Rates Range of interest rates: 5.50% p.a. to 6.70% p.a. Interest rate for a tenure of 1 year: 5.50% p.a. Interest rate for a tenure of 2 years: 5.50% p.a. Interest rate for a period of 3 years: 5.50% p.a.

How much money is safe in post office?

However, post office term deposits are totally risk-free as they are backed by the government. Bank FDs are insured only up to R1 lakh. Section 80C.