Have you ever experienced that your parents always say an example of our grandparents for the savings, right? Of course, they used to divide the salary for many things without affecting the other factors. And also, they did a great job and equally expense the salary for many reasons such as education, rents, food, entertainment and a lot more. But, now, the state of expenses has altered significantly. When it comes to savings of today, people are not satisfied since there are so many things to take care of.
Folks spend much of their amounts for huge things right from rent, medical, EMI, education and much more! In order to handle the expenses in a great way, one has to look for alternate options to save something for future purposes. With this, you can easily transform your earnings into assets. This is something called an investment. Investments make you to enjoy your future life in a great way. Read on further to know an insight for the best investment options for salaried person!
What are the different investment methods?
When compared to self-employed persons, salaried peoples have high responsibility and so you need to invest your savings. In order to meet the expenses, they have unchanging cash-flow for various reasons. Here are the top and best investment options for a salaried person can think about to achieve a range of life goals!!
- Equity Mutual Fund (ELSS):
With this mutual fund, an investor can save along with the tax payable system. And also, it is the best way to save your earnings and so save up to 1,50,000 with a lock-period of 3 years tenure. This is the investment process which is highly suitable for the individuals who wish to invest on a monthly basis. It is the mutual fund which is quite impressive for tax deduction process. Under the section of 80C, individuals save a lot. In fact, equity mutual fund started with 500 per month and so you can extend the investment additionally if you are interested. With this, you can save more and more though you are a monthly salaried person!
- Fixed Deposit:
With the help of fixed deposits, you will receive high interest regardless of modifications in the rate during the tenure. Up to 9% per annum will be announced by the small finance for the senior citizens but the other private banks offers up to 8.25% per annum. On the other hand, senior citizens will be benefited up to 7% per annum and so choose the one which suits your needs and earned the taxable options in a great way. These are the fixed deposit options and come up with a 5 years of lock-in period!
- Finance system:
The salaried person can also enjoy the investments in the Finance system to get high interest rate. They offer a decent interest rate of 7.85% which can increase up to 8.20% wholly. It is very safe and secure way to invest your savings!