Best Investment Plans in 2023: Choosing an investment plan is a very important aspect in financial planning. To increase your wealth, which way you are adopting to use your money properly depends on how well your money is being used.
The first five years of your investment can choose the right path for you, so it is important to choose the right plan during this time. Know here where you can invest your money for good returns in the next five years.
1. ELSS (Equity Linked Savings Scheme)
ELSS is considered one of the most popular schemes for short term. This is a mutual fund scheme, which is managed by a fund manager. Under this, your money is strategically invested in different asset classes. This scheme is linked to the market, so there is risk, but you also get good returns here.
2. ULIP (Unit Linked Insurance Plan)
ULIPs or Unit Linked Insurance Plans are a mix of insurance and investment plans. That means you get double benefit. Apart from this, you get premium protection, diversified asset allocation, tax benefits with systematic withdrawal option. Due to many unique features, this can be a great option for you for the next 5 years.
3. NSC (National Savings Certificate)
This scheme run by the government gives you guaranteed returns. It is like a fixed deposit scheme in a bank, which comes with a lock-in period of 5 years. Now you get interest at the rate of 7.70% on NSC. On this, you can take tax exemption on the annual interest return, tax exemption is also available on the principal amount of the investment.
4. FMP or Fixed Maturity Plan
Fixed maturity plan is also a good option for you. It is a debt based close ended mutual fund, under which invests in debt instruments. Investments are made in such debt instruments, which mature with the scheme itself. Here you can get more returns than bank FD.
5. Liquid Funds
Liquid funds are also a mutual fund, it comes with a maturity period of 91 days. If you are looking for an option with high liquidity in short tenure, then these funds are for you. However, since these funds are market linked, the returns depend on the assets your funds are linked to.
