Invest Your Diwali Bonus: Next month is the festival of Diwali. At the same time, there are now 10 days left for the next month. In such a situation, most of the employed people will be waiting for the Diwali bonus from their office. While the government gives Diwali bonuses to its employees in Diwali, in the organized sector, many private companies also give bonuses in the salary of Diwali month. However, it may depend on the different company and your salary, how much money you will get. It can also be equal to your monthly salary.
At the moment, you will be planning what you have to do for the bonus money. Many people can use this money in shopping during the festival, while some people can spend in some other way. But it is better to manage the festival with the salary and save this money, which will benefit you. But here savings do not mean depositing in a bank. If you get a lump sum, then you should invest in better schemes, which will benefit you more than the bank.
Liquid Fund: For 91 days
If you do not need this fund now, but you feel that after 3 months or 4 months you will need it, it is better to invest it in a liquid fund. Liquid funds are debt mutual funds with a maturity period of 91 days. That is, your money gets matured in 3 months. Due to 3 months maturity, market fluctuations do not have much effect on it. They are safer than equity funds, where if you look at the term return, it can be double compared to a bank’s savings account.
Liquid funds have a 1-year average return of 4.37 percent, while a 3-year average return is 6.01 percent. At the same time, if you talk about different schemes, then in 1 year, returns of up to 5.7 percent have been received. Whereas the returns of different funds range from 6.5 to 6.9 per cent in 3 years. It is clear that almost twice the savings account and equal to bank FD are getting returns here.
Investment for 1 year
If you want to invest the money received in the Diwali bonus for 1 year, then a short duration fund and 1 year UFD can be a better option for this.
Short Duration Fund: Short Duration Funds are also debt mutual funds, where the maturity period of the scheme is 1 year. If we look at the average return of the last one year, it has been 8.96 percent. On the other hand, if you look at the returns of different funds, there are many such funds, which have given 11 to 11.5 percent returns. This is more than 3 times that of a savings account, while twice the FD.
1 year FD: Fixed deposit is also a better option if you want to save for 1 year. This can be done anywhere at the bank or post office. Although 5.5 percent interest is being received on 1-year FD in post office, 4.9 percent in SBI. Co varies between 5 to 5.5 per cent in different banks.
For 3 years: Mid Duration Fund
Mid Duration funds are also debt mutual funds whose maturity is 2 to 3 years. Here the 3-year average return is 6.33 percent, while different funds have given 8 to 9 percent returns during this period.
For 5 years: FD or NSC
Fixed Deposit: For this, the time deposit scheme of the post office is the best. The time deposit scheme has 6.7 per cent annual interest on 5-year deposits, which is more than that of any major bank. SBI, HDFC Bank, PNB, Bank of Baroda and ICICI Bank are getting interest ranging from 5.75 per cent to 6.25 per cent per annum for 5 years. On investing in it, tax is exempt under Section 80C of Income Tax.
NSC: You can invest in National Saving Certificate from any post office where the facility of opening a savings account is available. The total investment period under the NSC scheme is 5 years. Under this, the account opens with at least 100 rupees. You can deposit any amount of money in the scheme. Interest on NSC is 6.8 per cent per annum, which is slightly more than FD. On investing in it, tax is exempt under Section 80C of Income Tax.