Invest now before it is too late. Life Insurance and Investment should be started as soon as one starts working or starts business.
There are various investment which can be started as savings for future. They are :
Life Insurance plans – Invest now
Public Provident Fund (PPF) – Invest now
Employee Provident Fund (EPF)
National Savings Certificate (NSC)
National Savings Certificate is offerd buy Post Department. NSC is a savings scheme considered as very safe among all investments. Anyone can invest and comes with 5 & 10 years lock-in-period. Rate of Interest is announced by the Postal Department from time to time. Investments to NSC is considered for 80C.
Equity Linked Savings Scheme (ELSS)
Equity Linked Savings Scheme (ELSS) are Tax Saving Mutual Funds scheme with 3 years lock-in and qualifies for Income Tax Savings under section 80C of Income Tax Act 1961. An open-ended Equity Mutual Fund that helps save tax, and also provides an opportunity to grow money at a comparatively faster rate.
. Investment in Mutual Funds ELSS provides inflation-adjusted growth in the long-term
Sukanya Samriddhi Scheme
Senior Citizens Savings Scheme (SCSS)
Bank Fixed Deposits (FD)
Fixed deposits for more than 5 years with Nationalised and Private bank as notified by Reserve Bank of India qualifies for Tax Saving under section 80C whereas the interest earned on the investment is taxable.
Post Office Time Deposit
Some Post office deposit schemes as mentioned by Government of India for Tax savings are also eligiable under 80C
National Pension Scheme