Written and edited by Vaishali Dosad
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You are on an important journey in life and the future, you will be taking some great steps towards some better and new things. So to achieve what you desire you need to stick to it and keep crossing all the obstacles your way. Here we will go through Best Investment Plans In India that promises to be convenient and can ease your life in many ways. But the story doesn’t stop here, for that you need some backups too, because in today’s world you need the money more often to do anything. Everything comes with the price after all.
When you set goals about certain things you have to set them for your investments and wealth too. And for that, you deserve to know about what best investment plans in India you can get for a happy and secure tomorrow. Which is the best monthly investment plan? Which can fall under certain categories are as follow-
Best Investment Plans For Child Future
When it comes to a child’s future parents become way too concerned here. Everyone wants a great future for their child and everyone deserves it too.
- Fixed Deposits (FD)
The parent is free to open an FD(fixed deposit) account on their children’s behalf. And once the child turns 18 he/she is eligible enough to get whatever comes through it. They also provide an online and offline methods to open the accounts.
It holds remarkable benefits too apart from saving for long terms like:
1- The interest rates are amazing
2- Automated features.
3- Generating the interests.
4- Benefits in terms of tax.
5- Safe investments
6- Flexible to everyone.
- PUBLIC PROVIDENT FUND (PPF)
The account can be opened on behalf of a child again until they turn 18 and once they achieve that age it will go to them and can be used for studies or whatever they want to get it for. But no one other than the parent is allowed to open the account and they should be residential Indians and all required documents should be needed at the time of opening. It also allows to nominate more than one person.
1-There is an advantage that the child after years will get to access a PPF account with a lock-in period that is shorter as compared to other ie.15 years.
2- Interest earned are tax-free.
- The Life Insurance Corporation of India (LIC)
Since 1956 it is still running and winning the races. This is one of the oldest and most believed insurance plans in India. Its child plan carries special perks which no one can resist knowing and looking after. Some of the privileges held are-
2- Different norms on policies and benefits through them.
3- Premium waiver benefit, if unfortunately, a parent passes away without paying the premiums it waives off it in the future.
4- Secured corpus for the child allows a safe future for the child and the fund can be used in education, wedding, and other purposes shortly or later.
Some other plans you can dive into are-
- Systematic investment plan (SIP)- This regular investment and discipline saving method helps in securing a child’s future.
- Mid and Small-Cap Mutual funds are other things you can look into.
- A mix of Index funds and active fund
- Sukanya Samridhi Yojana, for girl child below 10 years of age and until she attains 20 years.
Long term financial planning to meet requirements like –
Higher studies, travels, medical, home, business all these things can be kept in mind and actions can be taken accordingly.
Best Investment Plans For Short Term
The way short steps in life are important at several points similarly short term plans in investments are important too. At certain turns, you are gonna need them and that time they will prove their worth.
Some plans which can be kept in mind concerning short term investment plans can be as-
- Short-term Fixed Deposits (FD) have very pleasant and stable interest rates and built-in flexibility.
- Liquid funds come with low-risk factors so you can rely on them comfortably. And also there is Low-Interest Rate Risk.
- Fixed Maturity Small Investment Plans are for accomplishing short-term goals they also have low tax, low cost, and minimal interest rate risk.
- Saving bank account comes with financial discipline, keeping the money safe. It also has the benefit of automated bill payments and helps with your income tax returns. And most importantly you get easy access to it so kudos!
- Term deposits with banks have a range of one month to two years.
Apart from these, you can also look into some other plans which your branch addresses you with and is under your ease.
Best Investment Plans For Retirement
Goals are something that keeps you moving either long term or short term. Some people have goals for the next moments or the next day while others have for years ahead. And both of them are worth it.
With time everything changes and so does the age and time too, so for a future where you don’t have to risk for surviving every day to meet your needs you need some plans. Here you will get through the list of best investment plans for retirement.
- HDFC Life Pension Guaranteed Plan is best for people who are planning for their retirements as it offers high annuity rates. All you need is just pay a one-time premium today and you will start receiving your annuity with a date in the future of up to 10 years. It has single and joint-life-based plans too.
- TATA AIA Life Insurance Fortune Guarantee Plan is one of the best plans to choose. It permits you to meet your life’s necessities with guaranteed income that too regularly. It has eminent features to meet one’s needs and is way too flexible.
- ICICI Prudential Assured Savings Insurance Plan provides you with essential options like Monthly. Half-Yearly or Annual mode of premium pay according to your ease.
- Reliance Smart Pension plan leads you towards a worry-free retirement and it covers from 10 to 30 years. Surrender, loyalty additional, and death benefits come under it and you can even plan your retirement age.
These are some of the most preferable plans we have mentioned here. Despite these, many other comes in handy to such as Bajaj Allianz Retire Rich, ULIP Pension Plans, Aegon Life Guaranteed Income Advantage Insurance Plan, Bajaj Allianz Retire Rich, etc.
You can just dive into any of them and pick whatever suits you and your well-being. All the best you are a few steps away from a reliable, confident, and carefree tomorrow.
Best Investment Plan For Child Education
Education is a bridge joining two lives, one with a secure and confident one and the other without it. So make sure you get into the right one. And know about Which is the most profitable investment in India? And Which investment plan is best in India?
List of the best investment plans for the education of the child-
- Max Life Shiksha Plus Super plan, from choosing your policy terms and premium payment modes to giving family income benefits if in a situation the policyholder departs. Against the risk in the market, it also offers a systemic transfer plan.
- SBI Life Smart Scholar is a ULIP plan that agrees to secure the child’s future even if the parent is not with them anymore, so one can rely on it without a second thought. It comes with four power packages Security, Reliability, Flexibility, Liquidity.
- ICICI Prudential Smart Kid Regular Premium Plan has maturity benefits, death benefits, survival benefits, and income tax benefits. Growth of your money, easy access to money, and you even get rewarded for staying invested for long term with them.
- IndiaFirst Happy India Plan, promises happiness in life and everyone deserves to be happy. Whatever time of day you plan for the special moment in your child’s life it will release the funds to them at any of their life events and will make it more enjoyable for them. Even it provides financial security in case there is an unfortunate event. And even you are allowed to switch from one fund to another and make most of the investments.
- Birla sun life vision star child plan comes with a bonus(offered every year if the policy is in force), tax, and loan benefits. Also, death and maturity benefits are offered here. Two payment options are there OPTION A- two payments are paid one with 30% and the other with 20% every two years, five years after PPT achievement.
Not only these but many more plans are offered if you look around and reach a favorable one. So all the best for this move, remember it is essential for you and most importantly your child who will be nothing but thankful to you one day.
Also if you want to get some more plans they can be – SSBI Smart Champ Insurance Plan, Investments in NSC, Sukanya Samriddhi Account, Equity mutual funds. You can go through their information and choose them.
Best Investment Plan For Middle-Class Family In India
In between all the expenditures and savings there exists life and not everyone winds it. If you can afford whatever you desire and your needs then you are lucky nut not everyone is. A middle-class family comes with lots of struggles to attain several goals. But investment plans for Middle-class families can give relaxation at several points.
After going through the information below you will get fitting answers to questions like Which is the best investment plan in India for the middle class? Or Which investment is best and safe?
Let’s go through some of them.
- Savings Account is almost advantageous for all categories. All you need is knowledge of them. With a 3-4% return rate per year, it is liquid and you can get money from any of the ATMs nearby.
- The second one is so well known and one of the best plans in the country. Fixed Deposit is offered almost by all the banks and the amount invested is needed to be done for about 7 days to 10 years with fixed interest return.
- Stock Market, but before you know about it go into this only if you want to and you are a risk-taker. Because if you are lucky you are lucky. Doubling your investments can be an easy run if you select the right company but also you can lose your all capital within a few seconds. So choose wisely.
- SIP in Equity Mutual Funds has 8% to 15% returns per annum. You can get extensive returns if you wait long enough for it.
- Invest in Gold Bonds and get lower prices on applying online than the physical one. Circulated by the government they come with a guarantee but keep in mind that it is most beneficial for the long-term investors only.
Some things in life come with price while others come with investments and these are one of them. But also every step and decision should be taken according to the convenience.
Hopefully now onwards you won’t hesitate on things like Where can I invest a small amount of money? Or Which is the best one-time investment plan?
As for now, you have received ample or alternatives.