Ideal Investment Options for Salaried Individuals

For optimum financial growth, a salaried individual should invest a portion of the income into profitable options in addition to saving. There are occasional cash inflows such as bonuses and hikes that can add more momentum to the financial growth and help in reaching the goals sooner if invested smartly.

Read on to know about the most promising and profitable Investment options that are worth investing in for salaried individuals:

Unit Linked Insurance Plan (ULIP)

Insurance companies offer ULIPs that allocate a portion of the premium towards market-linked investments such as equity or government bonds, while the rest of it goes towards life coverage in the form of insurance. Following completion of the lock-in period of 5 years, the returns are obtained based on their market value.

Fixed Deposits

A Fixed Deposit is deemed as one of the safest investment options that are as secure as a savings account, but are much more lucrative. Banks and Non-Banking Financial Companies (NBFCs) offer varying rates of interest and tenures on their FDs.

On a generic basis, an investor is more likely to find NBFCs offering a than banks. During the tenure, if there is an urgent requirement of funds, select banks and NBFCs also provide the option of availing a loan against an FD. Therefore, one need not withdraw the invested sum prematurely and lose out on the interest earnings.

There are Public Provident Funds as well that have a lock in period of 15 years and are backed by the Government of India.

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