Many individuals use the onset of a calendar year to plan their investments. People often make financial resolutions on the eve of New Year to make their coming year better. For people looking to make money in 2019, there are several investment avenues available in the market. Aggressive investors can invest in equities, suggest financial experts. However, people who are looking to make safe returns can invest in fixed income instruments- such as fixed deposits (FDs), recurring deposit, public provident fund (PPF), national savings certificates (NSC) and Monthly Income Scheme (MIS).
Here are 5 investment options that you can try in 2019:
1. Fixed deposits (FDs): Fixed deposits (FDs) are secure investment instruments that offer higher interest rates than deposits in savings accounts. The returns are fixed across predetermined, specific periods of time. FDs are offered by commercial banks, small finance banks, non-banking financial companies (NBFCs) and post offices
2. Recurring deposits (RDs): Recurring Deposit (RD) is a kind of term deposit under which one needs to deposit a fixed amount at fixed interval. Customers can deposit the sum every month and earn an interest income on the same.
3. Public Provident Fund (PPF): PPF offers an investment avenue with decent returns coupled with income tax benefits. PPF comes under the exempt, exempt, exempt (EEE) category of tax status. This means that returns, maturity amount and interest income are exempt from income tax. Deposits qualify for deduction from income under Section 80C of Income Tax Act.
4. National Savings Certificates (NSCs): NSC certificates can be purchased from post offices. Deposits in the National Savings Certificates also qualify for deduction under Section 80C of the Income Tax Act. NSCs have a lock-in period of five years.
5. Monthly income scheme (MIS): Monthly income scheme (MIS), which can be opened with post office, has a maturity period of 5 years. The minimum amount required to set up a monthly income account is Rs 1,500. The maximum investment limit is Rs 4.5 lakh in a single account and Rs 9 lakh in a joint account.
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