Dhanteras 2020 | 5 Long-Term Investment Options for a Secure Future
Dhanteras also known as Dhanatrayodashi gives a good start to the Diwali festival season as it is considered to be an auspicious day to buy gold and invest money. Making long-term investments on this propitious day is a smart idea as you can redeem these investments at the right time to achieve your future goals.
Here are 5 long-term investment options that you can consider for a secure future:
Fixed Deposit: Instead of sheltering your money in a Savings Account, you can put your money into FD and can earn an interest rate of up to 6.5%. According to the RBI’s guidelines for Payments Banks, total balance of an account holder cannot exceed Rs. 1 lac at the end of the day. Therefore, with your consent, PPBL books the FD on your behalf in partnership with our partner Bank.
|Maturity Period||12 months|
|Interest on Maturity||6.5%|
|Auto Renewal||On maturity|
|Charges if Redeemed Before Maturity||Zero charges (No penalty)|
Mutual Funds with Paytm Money: An ideal option for both low and high risk investors, there are various types of mutual funds schemes available on Paytm Money that can be opted to offer you high returns in the long run. At Paytm Money, you can invest in schemes starting from Rs. 100 and can also explore schemes top rated by agencies such as CRISIL, Morningstar & Value Research.
|Charges||No hidden charges, commission or fees on buying & selling mutual funds|
|Returns||Earn up to 1% extra returns by investing in direct mutual funds|
|Portfolio Insights||View insights, statements and track Performance anytime for free|
Paytm Digital Gold: At Paytm, you are guaranteed to buy 24K 99.99% pure gold from MMTC-PAMP (India’s only Internationally Accredited Refinery) that will be stored in the MMTC’s most secured, 100% insured vaults with zero storage charges. You can buy gold for as low as Re. 1. Paytm ensures to keep you updated with live gold prices that will help you to decide if you should sell the gold you have or buy more.
Employee Provident Fund (EPF): EPF is a scheme managed by the government and one of the broadly-used investment options by salaried professionals. Any organization having more than 20 employees is eligible to offer EPF to its employees. If your organization does not offer this investment option, you can request for it and a fixed amount will be deducted from your salary every month so that you receive the lump sum amount when you retire. In case of an emergency, you can also withdraw some amount of it before your retirement.
Public Provident Fund (PPF): PPF is the most preferred and common investment plan backed by the government. This scheme is suitable for those who wish to have a risk-free long term investment. The maturity period for PPF is 15 years and the interest rate frequently gets revised by the government. After a period of 6 years, you can partially withdraw your money. Moreover, you can also take a loan on the balance available in your PPF account.
If you want to make a smart investment, it is important for you to have an in-depth knowledge of various investment options available in the market. The long-term investment scheme that is suitable for you will primarily depend on your financial goals, risk level, time period, budget, etc. Having mentioned the above, don’t forget to save your hard-earned money to deal with your daily expenses first. You can then, chalk out a plan to invest for fulfilling bigger goals.
Updated on 15/02/2021