Small Amount of Rs 500 Can Make you Wealthy. Follow These Five Investments Plans
In Today’s World Everyone wants to become Wealthy but they don’t have the right planning of where to do investment. Here we will tell you five schemes in which you can start your investment with just 500 Rupees and this investment of Rs 500 have the potential to make you wealthy and also your hard-earned will be safe and you will get better returns.
1- Post Office Savings Account
If you want to save money then you can open Savings Account in the Post office. It offers you an interest rate of 4% and your money is also safe. Interest up to Rs 10,000 is tax-free in post office Savings Account
2- Sukanya Samridhi Yojana
This is the Government Scheme launched by the Modi Government. Since it is the Government Scheme so there is no risk in investing in this Scheme. In this Scheme, you can open an account in the name of your daughter and the minimum investment amount is Rs 250 . Sukanya Samridhi Yojna offers you Tax Deductions. Interest is calculated on a Compound Basis in this Scheme, which helps in generating more returns. Every Year you can Deposit Minimum Rs 1000 and maximum Rs 1.5 Lakh
3 – National Savings Certificate
National Savings Certificate is a very old and popular Scheme run by Post Office. You can get invest in these certificates in the denomination of Rs 100, Rs 500 Rs 1000, and Rs 5,000. It comes with a maturity period of 5 Years and currently it is offering an Interest rate of 6.8%. Also, you are tax rebate under Section 80C in this scheme.
4- Public Provident Fund
Public Provident is a great investment option for long term investment. You can invest in PPF with 500 Rupees monthly also and maximum you can deposit 1.5 Lakh Rupees in a financial year. Currently, PPF is giving interest of 7.1% Compounded. The amount Deposited in PPF Account can be claimed under Section 80C of the Income Tax Act. Interest Received in PPF is fully Tax-Free. Also, You do not have to give Wealth tax in the amount deposited under PPF.
5- Mutual Fund
Any Individual Can Invest in Mutual Fund . You can invest with a Minimum Amount of Rs 500. this the best Investment in today’s Scenario For Example Monthly Investment of Rs 500 for 15 years with 10% interest compounded can result in 2 Lakh Rupees in which 90 Thousand Rupees is your Base Amount And 1 Lakh Ten Thousand is your interest. You can purchase Mutual Fund Both Online and Offline.
Above are some Best Investment Plans which can increase your wealth with just an investment of Rs 500 per Month.