Bank fixed deposits have fixed amount of investment period. It is ideally suited for investors who come in the lower to middle tax bracket. The return on investment usually revolves around 8% to 9.5% based on the bank and the age of the investor.
There are many retirement options now available in the Indian market. They make your money grow at a gradual pace. almost all banks nowadays offer more than one type of retirement plans. The scenario of retirement plans in India was not positive until the recent few years. However, today there are a large number of retirement schemes available to the common man.
Public provident fund or PPF offers a return of more than 8%. However, there are many other benefits that make it a great wealth management india option for almost everyone. It is tax-free, involves almost no risk and comes with tax benefits. If you are looking for a financial product that offers liquidity, keep in mind that you cannot withdraw from PPF until after the 7th year. This means that you can plan PPF for your long-term needs such as for retirement or the education of your children.
Mutual funds give you the benefit of liquidity and good growth rate with a small risk of opening up to the stock market. If you choose the right fund, there is no need to worry about being open to the equity market. If you choose the perfect combination of debts and equity portfolios in your funds, they can become a safe and risk-free choice for growing your money.
It would be best to get the help of a wealth management advisor who have good experience in micro managing the cash flow. In addition, investing in evergreen sectors like health and education is another safer option for investors.
In addition to bank fixed deposits, there are company fixed deposits that offer higher return on investments. Public companies can offer fixed deposits, but there is a higher amount of risk involved. Check the credit-worthiness and the history of the company before making any investments. These are some of the most important wealth management solutions available in India that could offer you relatively safer and higher ROI.