Fixed Income Investment
It offers a fixed rate of interest on investment and fixed income for a specified period of time known as fixed income. This is best suited for short to medium term investors. Bonds, government guaranteed mutual funds and FDs all belong to the category of fixed assets. These options are good for those who can take a little risk and escape the stock market. Here we will give you information about the 5 best such methods.
Senior Citizen Savings Scheme (SCSS)
SCSS is a government scheme that provides a fixed return on investment. As the name suggests, this scheme is for senior citizens i.e. people above 60 years of age. Any person can start investing in this scheme by opening this account through post offices and banks. Recently, the Government of India has increased the policy rate by 20 bps (0.20 percent) for the October-December quarter. Now, this scheme will yield 7.6%.
Prime Minister’s Vandana Yojana Fund
This is a pension plan for adults. This scheme is a fixed investment scheme sponsored by the Government of India. It was introduced to facilitate monthly pension for senior citizens. Senior citizens can invest in this policy through the Life Insurance Corporation (LIC). Currently, the policy’s interest rate is up to 7.40% per annum.
monthly post schedule
The Post Office Monthly Income Scheme is a regular government scheme, which can help earn regular and stable income as repayments. It is a popular investment method among traditional investors as a good way to get regular income. This plan is ideal for investors who want to get fixed fixed income with guaranteed returns at a fixed rate of interest every month. Recently, the Government of India increased the interest rate on this scheme by 10 bps from 6.6% to 6.7%.
FD in Banks / NBFC / Post Office
It is a way to earn money for a fixed period of time. Before the closing time, the seller is not allowed to withdraw the money. Bank FDs offer guaranteed returns while keeping the money safe. That is, your principal will be safe and interest will be paid on it.
Public Provident Fund (PPF)
PPF is one of the safest fixed income schemes available in India, guaranteed by the government. PPF account can be opened in banks and post offices. A PPF account can be maintained for 15 years. To get better returns in the long run, you can extend it for another 5 years.