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As per Indian Money CEO Investing is one of the best options to increase hard earned money within a stipulated time. Investing money helps a person achieve financial goals easily. An investment helps improve financial status and secure your future. If you are not looking for long term investments, then stick to 3 year investment schemes that give good returns in a short time.
Best Investment Plan For 3 years
As per Indian money reviews financial planning is the process of creating a proper financial plan to meet investment goals, within a specific time frame. Financial planning helps secure your future as well as build wealth. A good financial plan always helps you err on the side of caution and cover all financial liabilities.
Manage income/finances effectively by diversifying investments.
Invest in avenues that generate more income in lesser time.
Discarding liabilities and paying debts
Creating emergency savings
Savings Bank Accounts:
A savings bank account is a deposit account opened by an individual at a bank or any other financial institution that provides a modest interest rate usually 3.5-4% a year.
The savings bank accounts help investors set aside a portion of their income, on which they earn interest. The funds deposited in the savings account remains accessible to the customer as he can withdraw the funds whenever needed. The savings bank account has low risk.
SEE ALSO: Savings Schemes In Post Office
As per CS Sudheer Indian Money Liquid fund is a type of debt mutual fund. These schemes are generally open-ended and are for short term investments. The liquid funds invest in money market instruments like certificates of deposit, treasury bills and commercial paper of maturity up to 91 days.
A fixed deposit is a financial instrument that enables customers save money in a bank or NBFC, which gives a higher rate of return than a savings bank account, (around 7% a year). Fixed deposits are one of the safest investments around. Fixed deposits are unaffected by market conditions. Fixed deposits offer liquidity (can be withdrawn with a small penalty) and offer decent returns.
Fixed maturity plans:
Fixed maturity plans (FMP) are debt funds that invest in company debt, money market instruments, fixed deposits and government securities. These are also close-ended debt mutual funds with maturity extending to around five years.
Fixed maturity plans invest in fixed income generating instruments like certificate of deposits or bonds and have a pre-defined tenure.