The Indian financial scene has undergone a discernible change in the last several years, with more women adopting financial responsibility and looking for investment options to safeguard their future. Women are investigating a range of investing options catered to their needs and tastes as they become more conscious of the significance of financial independence. We’ll discuss a few investing options in this post that are especially good for Indian women:
Fixed Deposits (FD)
According to Groww, FDs are among the safest investment options because they guarantee returns. They are perfect for women who value saving money and would rather have a reliable source of income. For cautious investors, the numerous bank-offered special FD programs for women with higher interest rates make it a profitable choice.
Gold Investments
Gold has long been seen as an inflation hedge and a safe haven asset. Exchange-traded funds (ETFs), sovereign gold bonds, and real gold are just a few of the ways that women can invest in gold. Investing in gold may diversify an investment portfolio and act as a store of value in times of economic uncertainty.
Systematic Investment Plans (SIP)
SIPs provide an excellent methodical way to invest in mutual funds. They make it possible for investors to make tiny, regular investments, which is ideal for women who may have inconsistent income sources or who wish to start small. In the long run, SIPs help women accumulate wealth by offering the advantages of compound interest and rupee cost averaging.
National Pension System (NPS)
“NPS was introduced by the Central Government to help the individuals have income in the form of pension to take care of their retirement needs,” according to the National Pension System Trust. The Indian government oversees the voluntary, long-term retirement savings plan known as NPS. In addition to providing tax advantages, it lets investors customise their asset allocation according to risk tolerance. For working women who want to accumulate retirement savings and ensure stable finances after retirement, NPS is a good option.
Public Provident Fund
PPF is a well-liked long-term investment choice supported by the Indian government. It has a 15-year lock-in term and provides tax benefits under Section 80C of the Income Tax Act. Women seeking steady income with tax advantages might consider PPF as it can function as a dependable retirement fund.
Mahila Samman Savings Certificate Scheme (MSSC)
The Mahila Samman Savings Certificate Scheme (MSSC) is a minor savings scheme of the Government to commemorate the Azadi ka Amrit Mahotsav and is solely for women and girls in India, according to press releases from the Press Information Bureau. The following are some of the schemes’ greatest attributes:
i) Women of any age group, including girl children, may register an MSSC account with a minimum deposit of ₹1000 and a maximum deposit of ₹2 lakhs for a two-year period.
ii) MSSC has a 7.5% annual percentage rate that is compounded every three months.
iii) The option for early closure and partial withdrawal for compassionate reasons.
Note: Before making any investment decisions, NRIs are urged to consult with financial experts that specialise in NRI investing and can offer insightful advice.
