Smart Investment Advice for Diwali Bonus
Last year, Mr. Ajay Mehra, a marketing consultant in a financial firm in Delhi got 1 month extra salary as a bonus amount for Diwali. Instead of outlaying the money on his shopping part, he invested the same in a IT company stock. Within 1 year, the stock jumped more than 100% and now he is going to purchase a car and he will fund the down payment of the car with his last year bonus. Invest money wisely, to be on a safer side, you can go for top pick up baskets of advisory firms and you will watch your wealth grow. Financial health is indispensable for leading a good life and we are
here to offer you the best advice.
Now, the festive season is around the corner and it’s also the time for companies to offer a bonus to their employees. It is a general trend that people utilize the bonus received during this period for making different purchases. However, if you save a part of your funds and invest it wisely, you will not only save but also earn from whatever bonus you get this festive season. In this article, we will discuss where and how you should invest
in this festive season:
Investment in Mutual Funds
Mutual Funds are still one the best investment options till date. The best part of these investments is that you can choose a fund as per your approach. If you are a risk taker, you can invest in small-cap mutual funds. There are huge chances of making big gains in these investments. However, if you want to have a safer investment, you can opt for those mutual funds that invest in government bonds and less risky industries. You can also start a SIP and contribute a small part of your salary every month to end up with huge benefits in the end.
Investment in Gold and Digital Gold
Gold has always been the most sought-after investment option in India. You can invest in gold by buying it in this festive season. Gold ornaments serve multiple purposes such as an ornament, as well as, the investment. There is less risk of loss in gold and it is also a very safe option. However, it is a tricky condition when it comes to storing gold. To overcome this situation, you can invest in digital gold where your investment is kept in
the digital form and original gold is provided to you in the end at the time of withdrawal. Here, you don’t have to worry about storing the physical gold as well.
Investment in Fixed Deposits
This festive season, you can invest in fixed deposits and earn higher interest rates on your investment. It is also good to invest in small finance banks if you plan to invest in fixed deposits as such banks offer higher interest rates of up to 9%. The sum of up to ₹ 1 lakh is backed by the government in every such institution. However, if you plan to invest higher amounts, you can opt for fixed deposits in major banks. In case you
do not have enough funds at the moment, you can opt for a recurring deposit scheme where you can contribute a small amount every month and earn huge interests in them.
Investment in Small Saving Schemes
This investment option is one of the most secure investment types as it is backed by the government. However, not many people know about it and do not invest in it due to lack of information.
Small saving schemes include Public Provident Fund (PPF), National Savings Certificates (NSC), Kisan Vikas Patra (KVP), Senior Citizen Savings Scheme (SCSS), Sukanya Samriddhi Yojana (SSY), etc. The interest offered on these accounts is relatively higher than that of a savings account or a fixed deposit scheme. As each scheme caters to the requirements of specific investors, you can select the scheme that suits your requirements the best and benefit from it this festive season.
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