Mostly men are known to be the ones crafting & sustaining the financial structure of the house, but with time women are also showing a significant approach towards financial planning and creating future wealth. As years have passed the gap between the pay scale of men and women has become very close. They are earning as much as or even higher than men, and that’s why proper investment planning has become highly essential for women as well. Because all that hard-earned will become the prey of inflation decreasing its value.
Here are Some of the Top Investment Options for Women in 2023
Mutual Investments Through SIPs
An individual can invest in Mutual Funds either through SIPs or Systematic Investment Plans or by contributing a lump sum amount at once.
Benefits:
- High returns based on market volatility.
- The monthly investment amount can be as low as ₹500.
- Investors can create diversified portfolios to minimize the risk.
- Different types of mutual funds to invest in.
PPF or Public Provident Fund
One of the safest and most reliable small savings schemes for both men and women to invest in. PPF is backed and regulated by the Government itself. This scheme is the perfect way for women to save a portion of their monthly salary without their hard-earned income at risk.
Benefits:
- PPF accounts can be opened at any bank or financial institution.
- This scheme has double benefits as it is not only an investment scheme but also a savings plan.
- PPF currently offers a 7.1 percent interest rate on investments annually.
- It has a 15-year lock-in period before which your accumulations can’t be withdrawn, at least not before facing penalties.
- Investors get tax benefits not only on contributions but also on the interest earned under Section 80C of the Income Tax Act, of 1961.
- The minimum and maximum investment amount for the PPF account is ₹500 and ₹1,50,000 respectively.
FDs or Fixed Deposit Plans
Investing in FDs is the most intelligent form of increasing the value of an individual’s savings. “With high-interest rates varying from one bank to another with minimal risk involved, Fixed Deposits can be considered as your next investment option for decent guaranteed returns in the future.” The interest rate on FDs offered by major banks ranges between 1.85% to 6.95% per annum. The maximum deposit limit varies as per the different classes of banks. However, the minimum value that an investor can deposit is ₹1,000.
Investing in Gold
An investment method that is famous and offers guaranteed profit since the era of ancient Kings and Queens is Gold Investment. If you want to be sure if Gold investment is best for you or not. Then surf the internet and research the value of gold since the 1800s for the gap of every 50 years till 2023, and you will get your answer.
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National Pension Scheme
“Launched by the Government of India and administered by the Pension Fund Regulatory and Development Authority (PFRDA), National Pension Scheme can be considered one of the best government-backed savings schemes for ladies. All the women investors willing to have a decent financial corpus after their retirement and who do not will to take major financial risks in life should blindly opt for the National Pension Scheme option,” mentioned Policybazaar.
