Best Investment Plans: Saving is very important to secure the future. The best option for this is investment. But, it is also necessary to invest at the right place and at the right time. To invest, it is not necessary that you should have a lot of money, you can also make good money with small investment. You can also start investing 500 or 1000 rupees every month. There are many schemes in the market where you can invest. We are telling you about five such schemes, where you can become a millionaire by investing 1000 rupees.
Investment in mutual funds
You can start investing in Mutual Funds. The best thing is that here you can also invest a minimum of 500 rupees every month. This is the best option for those who do not know much about the stock market. Mutual Fund Scheme you can choose according to your own. You can invest in a direct plan of Mutual Fund, here you do not have to pay commission. Therefore, your returns are greatly increased in long-term investments. You can invest in it through SIP. Apart from this, one can also invest in Equity Mutual Fund, Debt Mutual Fund or Hybrid Mutual Fund.
Invest in shares
You can invest 1000 rupees every month in many companies in the stock market. This can make your portfolio good. You should invest in companies that are growing well and their share price is less than 1000 rupees, this will help you a lot. Keep in mind that before buying shares, do a good research about the company.
Public provident fund
Interest is being paid at the rate of 7.1% annually on the amount deposited in the post office public provident fund. Individuals can invest a minimum of Rs 500 and a maximum of 1.5 lakh in a financial year. You can deposit money in the scheme in lump sum or in 12 installments. The maturity period is 15 years. The deduction can be claimed under Section 80C of the Income Tax Act of the amount deposited in the PPF account. The interest paid on it is completely tax free. If you deposit 1000 rupees every month in PPF for 15 years, then the total deposit becomes 1,80,000, but in return you will get Rs 3,25457.
Recurring Deposit (RD)
In the Recurring Deposit (RD) scheme, you can make large amounts by saving small. You can make a big amount by investing just Rs 100 in RD daily. Its maximum maturity is 10 years. In this, customers get interest from 3% to 9%. It is also a financial investment option like a fixed deposit.
National Savings Certificate (NSC)
In the National Savings Certificate, you will get 6.8% annual return. Its maturity period is 5 years, but you can extend it 5 times for five years. By investing this for a long time, your small deposit can turn into millions. Under this scheme you can invest from 100, 500, 1000, 5000 and 10 thousand rupees. However, there is no maximum limit, so you can invest even more if you want. Many people deposit a lump sum after retirement. This gives them good returns.