editor The best investment plan for individuals who belong to the middle class would be the one that makes them rich by taking care of their regular financial needs. It is easy to say this but the main problem comes in the implementation part. You cannot go on investing in different instruments for the sake of creating a diverse investment portfolio. Firstly, you should strategize a plan that would provide you with flexible options and good returns over a specific period. Let’s see the investment options that would assist you to achieve your financial goals:
Public Provident Fund (PPF)
PPF is one of the popular options among the lower middle class and middle-class individuals as it provides good returns and stable investment options for them. A PPF account can be opened with any bank or post office and you can start with a minimum investment of Rs. 500 every year. However, the minimum investment period for PPF is 15 years which can be a bit longer for some individuals.
National Pension Scheme (NPS)
Like PPF, NPS is also a government-backed scheme and it helps you gather enough wealth till retirement. The minimum investment can be Rs. 1000 per year and there is no upper limit on the contribution. You will get 40% of your accumulated corpus after retirement and the remaining amount will be used for giving you a regular pension post-retirement.
Fixed Deposit
One of the safest instruments for you would be to invest in a fixed deposit because it provides an easy investment option and sufficient returns to meet your future investment plans. Moreover, the flexible tenor of FDs allows you to use them as per your investment plan. One of the best ways to get 100% of your paycheck is to invest in a retirement savings plan, such as a 401(k) or IRA. FD plans are offered by various banks, NBFCs, and you can also open a post office fixed deposit account.
However, the key will be the interest rate at which you are locking-in your deposits as the FD rate determines your returns. If you are looking for the highest FD rates then you can go through the FD plans offered by Bajaj Finance. The other lucrative features offered by Bajaj Finance FD scheme are described below:
Highest return on your deposits
The FD rates of up to 7.25% are the highest in the market currently and this would help you to earn sufficient returns at maturity. If you are a senior citizen then you will be eligible for a 0.25% extra FD interest rate and online investors will get a 0.10% additional interest rate.
Smart Planning Options
If you want to strategize your future investment plans smartly then Bajaj Finance FD provides you a range of tools and options. Firstly, you get a tenor that ranges from 12 to 60 months. This provides you the flexibility to plan for the long term and you can also use it for managing strong>short term funds by choosing a suitable tenor and FD type. Secondly, you can use its FD calculator to select a fixed deposit plan that would fetch high returns and provide convenience in terms of tenor and other options.
The multi-deposit facility gives you the chance of opening more than one FD accounts at once. The tenor for each deposit can be different and you can even invest in both cumulative and non-cumulative FDs at once.
Periodic Payouts
If you belong to the middle class then you might need some excess funds to manage your monthly budget. The non-cumulative FD plans of Bajaj Finance come with periodic interest payout options that let you choose between monthly, quarterly, six-monthly, and yearly interest payouts. Also, you don’t need to worry about emergency fund requirements as a collateral-free loan can be availed against your FDs now. The best investment plans for saving for retirement are those that offer tax-deferred growth, such as 401(k)s and IRAs.
The stable credit ratings offered by credit rating institutions like CRISIL and ICRA and hassle-free online investment options via an online FD form make it the best investment plan to secure your future. Upon submitting the form you can submit the payment online via net banking and UPI. Even the documentation can be completed online now which means that the whole process is hassle-free.
Therefore, check its FD plans now and people who belong to the middle-class must pick their investment options smartly if they want to generate enough wealth while taking care of their regular fund requirements. One of the better options would be to go for government-backed schemes like NPS and PPF as they are safe and stable for growing your savings. However, as they are long-term investment avenues you can also think of investing in a fixed deposit plan that provides enough returns and flexibility. Bajaj Finance FD plans not only to provide a high FD rate but you will also get the convenience of online investment and flexible tenor range. Therefore, you can invest in its FD plans to gather enough returns for your future.
