The year 2020 has been unpredictable for everyone as almost everyone has gone through one financial issue or the other. It has been an unsteady year for the investors as well and many of them were waiting for 2021 to plan their investments afresh. If you are not sure where to invest money but want to start saving for the future, then you should be careful as the market has not revived fully yet. It is also the right time to start investing smartly as you never know which financial hurdle can come in your way. By considering all these factors, here are some smart investment options for you in 2021:
Where to Invest Money in india
If you are unsure about where to invest money, we are suggesting some top investment option to invest your money where you can invest your money for better returns with less risks.
Real estate
Purchasing a property might not be on your Wishlist right now but if you have excess funds then it is worth investing in real estate. This is because the real estate sector is already running low and the property rates are also reasonable these days.
Lenders are ready to provide easy loans to individuals who are ready to buy a property and if you buy a house or flat then you can rent it and use it as a regular source of income.
PPF
Investing in PPF i.e. Public Provident Fund is a good idea because it offers a lucrative interest rate and also ensures the safety of your deposited amount. However, as its lock-in period is 15 years, it is more suited for those who are looking for long-term investment opportunities.
Fixed deposit
A fixed deposit will grow your investment at a steady rate and it will also provide you the flexibility of choosing an investment period that complements your financial goals. If you want to balance your investment portfolio by investing in a low-risk instrument then FDs can be the right choice because they are secure and stable.
Also, fixed deposit plans like the Bajaj Finance FD scheme give you the option of availing a loan against your FD. This means that your FDs can now bail you out of financial emergencies without disturbing your other investments. Bajaj Finance FD interest rate is up to 7.25% which is the highest FD rate in India today.
The option of online investment through an online FD form ensures that you don’t have to bother wasting your time and energy while investing. Also, a 0.10% additional FD rate is provided to online investors and senior citizens get a 0.25% higher FD interest rate than others. All these options make it one of the favorite investment options in the year 2021.
Systematic Deposit Plan
If you want to benefit from the stability of fixed deposits but don’t want to invest a large sum in fixed deposits then you can think of investing in a Systematic Deposit Plan i.e. SDP of Bajaj Finance. It is similar to the SIP of mutual funds but without any risks as it is a stable deposit platform like fixed deposits.
To invest in SDP, you just need to deposit a fixed amount starting from Rs. 5000 every month. You can pick a tenor of up to 60 months for each of your deposits and choose any number of deposits between 6 and 48.
Now, you can either choose all of your deposits to be locked-in for the same period or you can choose a single maturity date for all of them. The prevailing interest rate on the date of deposit will be considered for each of your deposits. It is a great option for investors who have just started earning and it is also a suitable option for those who want to collect a big corpus with monthly deposits.
Picking a financial instrument is not easy in 2021 because the market has still not recovered fully yet. Investing in low-risk instruments is a wise option but you will also need to consider factors like return rate and flexibility of investment before making a decision. While investing in a property can prove to be a smart move, it is not ideal for those who don’t have the necessary funds or for those who have already taken a loan for marriage, a house, etc. Investing in PPF can be a good option but only for those who are seeking long-term investment options.
Fixed deposit plans are not only safe but certain financiers like Bajaj Finance are also offering a high FD rate. Also, features like flexible investment tenor and loan against FDs make it one of the better investment avenues in 2021. You can also think of investing in SDP as it is a safe instrument and allows you to grow your savings without investing a bulk amount.
Also, Read This: Why Is SDP Better Than Any Other Monthly Saving Schemes?