As an investor, one of your prime resolutions for the New Year would be to invest your money wisely. You may scourge through many websites, brochures, prospectuses and advertisements to discover the best investment plans as per your risk-return appetite, but may find it difficult to comprehend where to invest exactly. So, now let us look at some attractive investment options for you in 2021.
Investment Options 2021
- Fixed Deposits(FDs)
FDs are fixed-income instruments issued by banks and NBFCs in India. They offer reliable rates of return at minimal risks even during turbulent market conditions.
Bajaj Finance FD is one of the best investment options due to its higher FD rate and excellent credit ratings. Bajaj Finance currently offers an FD rate of 6.60% p.a. to retail investors and 7.25% p.a. to senior citizens. You will gain an additional 0.10% p.a if you are a non-senior citizen booking an FD online. A trouble-free, paperless online application and KYC procedure makes Bajaj Finance FD all the more attractive.
If you fall in the low income bracket with no lumpsum investment amount or do not want your money to be locked in at fixed interest rates, then Bajaj Finance has a unique offering for you in the form of Systematic Deposit Plan(SDP). You can start your SDP journey with just Rs 5000 in your pocket every month.
Under the Monthly Maturity Scheme of SDP, each of your monthly deposits are invested at prevailing market interest rates on the date of investment and have differing maturity dates. You can choose any tenure between 12-60 months for your deposits. Plus, you also have the freedom to fix any deposit frequency between 6-48.
However, if you are wary of monitoring multiple term deposits maturing on different dates, Bajaj Finance has engineered an SDP variant for you. This is the Single Maturity Scheme wherein all your monthly deposits will mature on the same date. So you have an excellent investment plan at your disposal to build a lump sum corpus.
With only the first deposit payment through cheque and subsequent deposit payments auto-debited from your savings account through NACH, SDP is definitely the one-stop solution for beating interest rate risks and building a retirement corpus from the comfort of your home.
The SDP and FD calculators on Bajaj Finance website will enable you to calculate your returns even before you make an investment.
Direct equities or stocks are considered to be the best instruments to multiply your wealth faster. To plunge into the world of stock markets, all you need is a Demat Account and Trading account.
- Mutual Funds(MFs)
If you are clueless about portfolio diversification, MFs are the best bet for you. MFs are usually actively managed portfolios that allocate resources between equity and debt instruments depending on the MF plan chosen.
- Senior Citizen Savings Schemes
This government backed scheme is ideal for retirees aged above 60 to get guaranteed income at stable rates of interest.
- Public Provident Fund
It is a 15 year scheme with minimum deposit requirements of Rs 500 per year offering a steady rate of return.
There are many investment avenues that you can consider investing in 2021 but you must carry out enough research for exploring the options that suit your risk appetite. Mutual funds, stock market, Senior Citizen Savings Scheme, PPF are some investment options that can be considered before finalizing your decision. However, the best option would be go for the stable investment options that offer high returns like Bajaj Finance FD.
It not only offers an interest rate up to 7.25% but also provides convenient investment options and flexible tenor. You can also think of SDP as it offers you the option of depositing a fixed amount every month and also allows you to choose the tenor and deposit frequency as per your investment needs.