Festive gifts are something that we choose with utmost care and love. If you are bored of the conventional gift ideas of clothes, accessories, cards, sweets, etc. you can consider long-term gifts this Christmas. You might have come across many investment plans prevailing in the market. But, to choose the right one to gift to your dear ones could be a daunting task. You need to choose a plan that will offer stable and decent returns without much hassle. Also, if you are investing in market-linked plans, you would need to check the degree of risks involved in the plan.
In the usual sense, there are two broad categories of investment plans – alternative and the traditional. Some of the secure investment options include fixed deposit, provident fund, mutual funds, Unit Linked Insurance Plans (ULIPs) etc which offer promising return to investors.
Types of Investment Plan Available in India
Provident Fund
If you are working in an organization of more than 20 employees, you would be a paying a portion of your salary to the Employee Provident Fund account. Your employer adds the equal contribution and deposits it to your EPF account. Similarly, there is another Provident Fund option which is termed as Public Provident Fund. You need to deposit a predetermined sum every month into your PPF account with a lock-in period of 15 years. On maturity, the sum accrued along with the applicable interest rate is payable to you.
Fixed Deposit (FD)
Fixed Deposit is considered to be one of India’s most reliable and safe investment option. In this investment plan, you have to deposit a lump sum amount to open an FD account with a flexible tenor ranging from 7 days to 10 years. You can book Senior Citizen FD for your parents or child FD for your little one to mark the Christmas celebrations. You can choose the tenor of your FD and the FD interest rates payout from a monthly, quarterly, half-yearly, or yearly basis. .
Mutual Funds
A mutual fund is a type of systematic investment plan that helps you in building sizeable savings to fulfill your financial goals. Depending on the fund performance, you can earn returns from your investments. Also, some financial providers offer the facility to switch among the fund options without charging any additional fee for the same. You need to switch the investment options based on the fund performances you chose to invest.
Unit Linked Insurance Plans (ULIPs)
ULIPs is a comprehensive plan that offers dual benefits of investment and insurance at one go. You can invest in market-linked plans like equity, debt, balance funding options as well as get life covers to get double benefits from your investment. Also, you can choose your funding types based on your risk appetite and financial goals.
Benefits of Investing in FD with Bajaj Finance
Bajaj Finance, one of the leading financial companies, is accredited with an FAAA and MAAA top rating from CRISIL and ICRA. The company offers assured returns with credibility. Moreover, you can enjoy increased interest rates for Senior Citizen FD. Below are a few perks of investing in FDs with Bajaj Finance:
- You can deposit a sum as low as Rs 25000 to open an FD account.
- You can assure guaranteed stable returns on investment without the influence of market rate fluctuations.
- You can renew your FD as per your preference, and each time of renewal the base amount increases providing high FD interest rates (8.75 % – 9.10%).
- You can choose from flexible tenor ranging from 12 months to 60 months.
- There is 0.35% increased FD interest rates for Senior Citizens.
- You can calculate the FD interest rates and maturity returns with the online FD calculator.
- In case of emergencies, you can avail loan against FD wherein you can use up to 90% of the accrued amount.
This Christmas, gift your loved ones the gift of security with Bajaj Finance!
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