MATCH YOUR INVESTMENTS WITH NEEDS
1. Recurring deposits
· To save for your child’s college admission within 2 years.
· They offer higher interest rate and assured returns.
2. Gold ExchangeTraded Funds
· To buy gold for your daughter’s wedding 3 years from now.
· You can convert these to physical gold when the marriage is near.
3. Liquid funds
· To park a large amount of a sold property for 2-3 months before buying another house.
· You can get better returns than a savings bank account.
4. Term insurance
· To insure yourself with limited money to invest.
· It will give you a large life cover at a very low premium.
5. Monthly Income Plans
· To invest your retirement benefits for regular income.
· They also carry low risk in the long term.
6. Fixed deposits
· To invest in the name of your senior citizen parents.
· They get 0.25-0.5% higher rates.
7. Diversified equity funds
· To invest for your retirement 20 years later.
· They give higher tax-free returns in the long term.
8. Sweep-in bank account
· To utilize a usually large sum lying in your savings bank account.
· It earns you higher returns than a savings bank account.
9. Unit-linked insurance plans
· To invest in an equity-linked tax-saving option, but want some flexibility.
· You can change your allocation, and new Ulips have lower charges too.
10. Top-up health cover
· To increase the health cover offered by your employer.
· Top-up plans cost lower than a regular health policy.