Everyone wants to do a safe and profitable investment that offers higher interest rates on their investment. Various high-interest investment options in India are safe to do. The investments are right for those who are retired and don’t want to take any risk on the investment.
There are lots of people who also can’t take the risk, which is why they choose some of the high-interest rates on investments in India.
Here are the best high-interest rates of investment options in India. Which are:
Table of Contents
KTDFC Fixed Deposits
These fixed deposit investment options are safe as they are supported by the government of Kerala. You can get high-interest rates of almost 8.50 percent for a period of 1, 2, and 3 years. Senior citizens are allowed an interest rate of 8.75 percent every year, which is a perfect investment choice for you. It has different branches in Kerala where you might send out your forms.
The deposits are extremely safe and they are supported by the government of Kerala. The interest is rate is good in this scheme. One of the most vital things to note down is that interest rates are high; therefore, it would be wise not to place money for long durations.
Mahindra Finance FDs
These FDs are 100% safe and offer an extremely high-interest rate. According to Indiashoppers, the FD offers the top interest rate of 9 percent every year if you can apply online. This is more than a duration of 33 and 40 months. The 15-month deposit brings you an interest rate that is quite higher. This is good to consider the deteriorating interest rate system that we are now living in.
One can also view some of the secure small finance banks, where you can obtain higher interest rates that are over 9.50 percent. These are a safe investment option to invest in. They were recently provided with a license by the Reserve Bank of India.
Keep in mind the interest rate on Mahindra Finance will decrease a little bit to 8.80 percent, when not invested online. Thus, an individual needs to think about online investment carefully.
Monthly Income Scheme
The post office monthly income scheme is for persons who are looking for a safe and high-interest investment option with good returns. This is like Public Provident Fund; the income from the tool is fully chargeable. Thus, your genuine revenue from the scheme is low. All at once, the investment does not catch the attention of TDS.
At present, the Post Office Monthly Income Plan offers you an interest rate of almost 7.8 percent, which is a perfect option. This is one of the tops and the secured investment option in India, as it is assured by the government of India. Also, the interest changes every quarter as the government improves the interest rate which is based on the standard 10-year bond.
Public Provident Fund (PPF)
Public Provident Fund (PPF) is one of the most preferred tools for a salaried person. PPF offers lots of benefits. The first thing is that the interest income is not chargeable. The second thing is that there are tax advantages which are under Sec 80C of the Income Tax Act. It is a great way to save for your retirement.
The interest rate on this has now augmented to 8 percent every year from almost 7.6 percent a few months back. This is one of the top saving investment options in India since it lets you create a corpus also for retirement.
Senior Citizen Savings Scheme
The Indian government has taken lots of considerations in different segments for the benefits of the Senior Citizens. The Senior Citizens Savings Scheme is a great scheme for senior citizens. The interest rate is selected by the government and will be put every quarter. The interest rates have now augmented to 8.7 percent, from almost 8.4 percent a few months back.
The plan can be opened in post offices and banks such as ICICI, SBI, and others. Thus, it is vital to note down that this investment is only intended for senior citizens in the country.
Tax Saving Fixed Deposits
Investing in tax-saving fixed deposits offers multiple tax advantages under Section 80C of the Income Tax Act. You can take away the invested amount from your taxable income, thus it will decrease your tax legal responsibility.
On the other hand, TDS is relevant to the interest income if it goes above Rs 10,000 in a financial year. The interest rates differ from 6 to 7.5% percent and currently, banks like SBI are augmenting the interest rates on the tool. You can apply for Clerk Jobs to know about this field.
Sukanya Samriddhi Account
Sukanya Samriddhi Account is only available for the girl child to promote girl education. This account can be opened in post offices and different banks. There are numerous benefits of depositing money in the Sukanya Samriddhi Account. The most important part is that you receive tax benefits under Sec 80C of the Income Tax Act.
These are all high-interest rates of investment options in India.