Thursday, August 21, 2014

Saving Options for Small Salaried Persons

Posted by Sharath Chandra
Dear Friends,

I would like to give my opinion on the saving options for the small salaried persons.

1. Fixed Deposits : You can go for it with any bank that you registered. Even you can open a Fixed Deposit online also. It will give you upto 7-8% (depends on banks and period of time) interest on the amount. You may withdraw even before maturity date.(conditions apply). This can be extended upto 10 years. Some FDs applicable for 80C section Tax Income proof. 

2. iWish Deposits : If you are an ICICI customer you will be having this facility. This is one of the easy and very good options for the Savings. Just log-on to ICICI and read out the instructions here. Its very flexible and will be giving option to save at any time you want. Its unlike Recurring Deposit where you have to mention one fixed amount and every month we have to deposit the same amount. But in iWish its different - and you can deposit anytime you want with the same interest i.e. upto 8% per annum. 

3. Postal KVP : Its another way to deposit money for small salaried persons where you have to buy the KVP certificates from your near by Post Offices. In this scheme the amount Invested doubles in 110 months (9 years & 2 months). 

4. Bullion India : Here you can invest in Gold / Silver starting range from 300/- Here you can buy / sell online at very easy way. 

5. National Saving Certificate: From Postal India - this scheme where you can buy certificates for the various designated amounts. You can get interest up to 8.10%. Applicable for 80 C section Tax Income proof. 

6. PPF Accounts: This you can register with any bank and monthly / quarterly / annually you have to deposit money upto 15years. You will get a good amount for Retieral benefit. 

Please share with your friends because in Knowledge 
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