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Earn Monthly Income With These Investment Options
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There is a way by which you can earn money through investment as a source of regular income monthly. They are best options for investment for our elderly or to the person who needs to supplement his income by making no efforts. These investments can be considered as part-time income and all you need to do is nothing but wait for the month to end.
Here I am listing some of these investment options that can be handy for you in the decision making of investments:
Bank Fixed Deposits (Bank FDs):
Banks are the safest place to invest where you can put your money safely and avail various benefits including regular income per month. Banks are providing investments that are risk-free and returns are guaranteed though a small margin but a handy one.
Banks are now offering fixed deposits with the maturity period up to 10 years. The finance minister has stated clearly to give a hike to the interest rates in all the banks across India. Many other private banks are expected to the same for attracting more depositors. Banks are deducting TDS too if the interest rate increases the level of INR 10,000 (Ten thousand) per year at 10 per cent.
Post Office Monthly Income Scheme:
The post offices are not only sending letters and parcels here and there. In India, they are more like banks or I can say better in the sense of Investments. The monthly Income scheme of post offices goes with the interest rate of slightly above 7 per cent per year. It is payable per month to the depositors as the name itself suggests. The Interest is going to pay if the money is deposited in the name of Post Office Monthly Income Scheme. For a single account, the limit of deposition is to be Maximum of INR 4, 50,000 (4.5 Lakhs). Almost double around INR 9, 00,000 (9 Lakhs) for those who are having joint account in the post offices. The maturity period of the deposited amount is fixed for the period of five years.
Pradhan Mantri Vaya Vandana Yojana:
Pradhan Mantri Vaya Vandana Yojana, a scheme dedicated to the senior citizens of the country by the government that guarantees a rate of interest as equal to 8 per cent. This is the scheme issued by the collaboration Life Insurance Corporation of India and Government of India. In the Budget of the year 2018, Mr. Arun Jaitley encouraged citizens to invest and also enhances the limit from 7.5 Lakhs previously to 15 Lakhs presently. The scheme is proposed to expand throughout the country by latest of the year 2020.
Hope you readers find it suitable for your upcoming plans of investments this year or in the future. These investments are almost no risk investments with guaranteed returns.
Best of luck for the investments!
Shivam Verma is a renowned writer on business and investment plans
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