What are small savings?
small savings plans not only provide growth to your money but also provide you with financial
security at various stages of your life. It depends on your needs what product suits you best.
You must go through the scheme documents before starting any investment scheme. Each financial
plan has its own advantages and shortfalls, only a good research will save your hard earn money.
Initial points of small savings
1. When you need returns?
i.e. you need money in short term or long term
2. How much risk you can take?
i.e. you prefer safe investments or some risky (e.g. bonds or equity)
3. What will be your investment pattern?
i.e. you want to invest a big amount one time, or small portion regularly
4. How much do you know about the product?
i.e. are you aware of good and bads of a scheme in which you are investing
For an example if you are looking for short term savings then you can invest your money in post offices,
government bonds, mutual funds, and if you are concentrated to long term
savings then public provident funds (PPF), life insurance, long term bank deposits (FDs, RDs) can help you.
Post Office Savings Schemes
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