Hi If you are looking for a secure investment, PPF is a good option. the interest earned on this is exempt from tax. I think the minimum investment required for this is Rs. 500/- which is very easy to manage and you can go up to a max of Rs. 1 lakh p.a. Another good option is mutual funds SIP, as suggested by nirmala2000. Good luck!
Hi Maya I see your post started in late 2012. Not sure if you found better plans for investing your amount. Since you are to be married, better buy gold coins and later you can exchange them in good gold shops by paying making charges alone at the time of your marriage. OR if you have clear picture of what kind of jewellery you want to buy, you can start buying them now. Since gold is must to some extent in indian marriage, you can go for that. One best thing for unmarried jobholders is to buy a flat for a reasonable price with loan and pay EMI monthly. 2 of my friends got jobs after their PG and with their parents' suggestion, they booked flat and started paying EMI. When ever they have 2 or 3 lacs, they pay it on the principal amt, so the interest will be reduced. They got married after 4 or 5 yrs after getting jobs. And they have almost cleared before they get babies. After marriage, you may plan insurance or ETFs etc... Good luck
You can also consider investing in Post office PF or GPF. This offers interest of 8.75%, also you can claim tax deduction for up to Rs.70,000 investment. However there is three year lockin
There is a flexi rd scheme in corporation bank in which you can invest from 500 onwards. The term is 3 years. Advantage is if you open for 500 you can invest 10 times of the initial amount that is 5000 if your initial amount is 500. You need not invest 5000 every month when you have surplus you can invest. There is no tds for this scheme. Further details you can contact nearest corporation bank. There is regular rd for 12 months and interest is 9%. Corporation bank Has lot of flexi schemes with decent reliable returns. Am a customer of this bank so sharing information please personally verify before investing.
Advantages and disadvantages of certain investments: 1. RD - Advantage-small amounts from 100, decent returns, no TDS Disadvantage- no high return and interest is taxable. 2. FD - Advantage - Ease of investment, decent returns, safety( bank deposits only) Disadvantage- taxable and lack of high returns. 3. SIP- Advantage- starts from 500, good returns, no tax Disadvantage- market linked so returns based on performance of share market, long term investment Needed, regular track of mutual fund nav must, no short term gain. 4. SHARES- Advantage- high returns Disadvantage- long term planning, high risk, regular tracking of markets must, highly volatile 5. GOLD - Advantage- easy to dilute, flexibility of saving. Disadvantage- high cost of investment, high risk due to burgeoning gold loan market, volatile
