Do you want to know in which savings scheme to invest money so that it doubles as soon as possible? There are many such schemes in the market which double your investment in a fixed period.
If you keep investing in such a scheme according to the rules and duration, then you get double the money. But you should keep in mind that this is not a miracle but a rule of the scheme. Thumbnail 72 is very effective for this, which shows in how many days the money will double in the scheme. In this rule, the annual return is divided by 72. It shows that in how many days the money in the scheme will double.
1-Tax free bonds
Tax pre bonds were earlier issued only for a specific period. But the government has allowed some state government companies to issue bonds up to Rs 40,000 crore. Apart from this, huge demand is seen for PFC and NTPC bonds. The annual return on such tax free bonds is 8.20% to 8.50%. This type of bond can double money in 8-9 years.
2-Kisan Vikas Patra
Kisan Vikas Patra scheme is considered the best scheme to double the money. In this scheme, the investment used to double in the first 124 months. The government has recently changed it and reduced its duration by 1 month. Now the amount invested in this scheme doubles in 123 months i.e. 10 years 3 months.
3-Gold ETF
Investing in Gold has always been beneficial. Apart from physical gold, good earnings can be made by investing in gold ETFs and gold bonds. If you want, you can also invest in Sovereign Gold Bond. The government and the Reserve Bank run this scheme. You can invest at least one gram of gold in this. On this, 2.5 percent interest is received every year. Its lock in period is of 8 years. Money can double in Gold ETF in 8 years.
4-stock market
Stock market plays a big role in earning and doubling money. Direct stock investment carries a lot of risk, but its returns are also very high. On the other hand, if you invest money in a particular stock for a long time, the risk will be less and the returns will also be good. This return can go up to 20%. For example, Eicher Motors stock gives more than 28% returns in five years. Money doubles in such stocks in 3.5 to 4 years.
5-Real Estate
Your money can also be doubled by investing in real estate. Good rental income can be earned by investing in residential real property. This also helps in saving tax. Money invested in real estate can double in 6-7 years. But the special thing is that you have to invest a lump sum amount in real estate. In how many days the money will double, it will depend on the location and infrastructure.
