Recently I read about an article stating that Indian are huge savers of money. But I feel that we don't save our money intelligently.All we Indians know is to make our money sleep in the bank lockers or in the post office. We ignore the fact that there are other worthy options to invest our money.Obviously there are people who makes intelligent investments. This post is not for them,but they don't have any harm in reading this!!
For long term investments most of us prefer fixed deposits in any of the banks, preferably nationalised banks but the interest for our invested money in this scheme is comparitively very low. The better option for long term investments is to invest our money in mutual funds. This is getting popular among the investers because of its higher interest but there is a bit of a risk factor involved in this scheme too. For those who hate to take risks and still would like to get good returns on their investments, there is a plan called "Fixed Maturity Plan". This is nothing but a combination of the benefits of the fixed deposit plan and mutual fund plans. In this plan the money invested are used to buy Government bonds so the chances for their value to go downhill are remote which provides safety for our money. There are also numorous tax benefits one would get by investing in Fixed Maturity Plan and the interest for the money invested comes around 9.5% to 10.30% which is pretty high for a fixed deposit.
This plan is not just about positives. On the flip side unlike in fixed deposits it is not easy to open an account. It could be done so only when companies announce these plans and they don't announce them every other day, so we have to wait until they announce. But it is worth the wait. To invest our money safely in fixed deposits is a good move but when we have a better option we must certainly turn our heads towards that option
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