Jan 24, 2023
BY: Babar Zaidi, ET BureauRETURNS: 8-11% Past five years. Lock-in: Till retirement. The additional tax deduction and the flexibility to switch between debt and equity will benefit taxpayers. But the very long lock-in is a damper.
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RETURNS: 8-9% Past five years. Lock-in: Minimum 5 years. The flexibility to switch between debt and equity, tax-free returns and possibility of partial withdrawals make this a good option.
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INTEREST RATE: 8% Jan-Mar 2023. Lock-in: 5 years. The best investment option for senior citizens has become better after the interest rate was hiked for the Jan-Mar quarter.
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RETURNS: 7-13% Past three years. Lock-in: 5 years. These hybrid mutual funds would benefi t from the prevailing high bond yields. Lock-in period is also not long.
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RETURNS: 10.01% Past five years. Lock-in: 3 years. With markets looking unstable, investing a large amount at one go can be risky.
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INTEREST RATE: 7.1% Jan-Mar 2023. Lock-in: 15 years from inception. Though the interest rate has not been hiked despite rise in bond yields, the tax-free nature of the Public Provident Fund makes it more attractive than bank deposits.
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INTEREST RATE: 7.6% Jan-Mar 2023. Lock-in: Till child is 18. Used to fetch highest interest among all small savings. Missed rate hike for Jan-Mar quarter.
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RETURNS: 7-8% past five years. Lock-in: Till retirement. These plans from insurance companies can’t match the NPS on several counts.
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INTEREST RATES: 7-7.6%. Lock-in: 5 years. Good option for senior citizens who have exhausted investment limit in SCSS.
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RETURNS: 5-6%. Lock-in: Minimum 5 years. These continue to be the worst way to save tax. The tax break is not the core benefit of a life insurance policy.
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