Kotak Assured Savings Plan
A plan that offer guaranteed returns and financial protection for your family.
Kotak Guaranteed Savings Plan
A plan that offers long term savings and insurance in one premium.
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In this policy, the investment risk in the investment portfolio is borne by the policyholder.
Ref. No. KLI/22-23/E-BB/492
Women are not only educated but also independent, both socially and financially. Read to know the best investment options for women and homemakers to achieve their investment goals.
There are dedicated investment plans for women in the finance market that are designed specifically to cater to their financial goals and needs. To find the best investment options for women, it is important to understand how to find them and what factors to look for to identify the best options.
Women’s empowerment in India, especially in the last two decades, has been remarkable. Today women are not only educated but are also independent both socially and financially. They have made themselves so capable that they are now leading their families, organizations, and society. This is a grand feat for us as a society. However, for every woman, savings has been a critical priority. As they succeed more and more, the options for new finance and investment avenues are expanding for them. Investing money not only enables them to be independent but also allows them to support their family and maintain a good and healthy living standard.
In this article today, we will discuss the best investment options for women and also shed some light on the best investment options for housewives in India.
They are considered the best and the safest option that women can opt for to build a good savings balance. PPF is a popular investment plan available in all post offices and banks. You get a decent interest rate when you invest in PPF compared to other similar long-term saving schemes for ladies.
PPF provides an interest rate ranging as high as 7.1% to 8% in tenure of 15 years. In addition, PPF is government-backed and risk-free, making it the safest investment option for women. The features that make PPFs more lucrative are the range of deposit amount and withdrawal facility after 5 years.
PPFs allow women to invest an amount as small as ₹500 to as high as ₹1.5 lacs per year. Moreover, it allows women to withdraw as much as 50% of the total deposit after 5 years. This enables women to have access to liquidity and, at the same time, save a large amount. The benefits linked to PPF make it one of the best investment options for housewives in India.
Just like the PPF, EPF is as good as they allow the working females to allocate a dedicated sum as soon as the income is credited and have tax-free savings with a decent interest rate. The interest rates on the EPF are generally regularized by the government depending on various economic factors but generally are in the higher range only (above 6%).
In addition, working females only have to contribute 8% of their primary income to EPF funds for the first 3 years. The private sector female employees can invest a maximum amount of up to ₹2.5 lacs, while the female employees working in the government sector can invest as much as ₹5 lacs in the EPF scheme.
Kindly note that besides the mandatory government rules of EPF deduction, you can further invest more money into EPF. Still, you will only get EPF interest as per the rate per annum in the additional sum invested.
A ULIP policy serves as both insurance and an investment tool. They allow individuals to explore the capital market for investment opportunities while providing essential life insurance. Unfortunately, choosing a life insurance plan and significant investments can be time-consuming and financially exhausting for many women. ULIPs can be extremely useful and wise in this situation. In addition, ULIP tax benefits under Section 80C and Section 10(10D) of the Income Tax Act propose that income invested, interest earned, and the maturity amount be tax-free, making ULIPs more appealing to those seeking low-cost investment options.
This option is one of the highly opted investment options among women. NSC offers a high-interest rate of up to 8%. Additionally, there is no cap on the sum/money invested. Also, it is a disciplined investment tool that comes with certain restrictions preventing you from withdrawing an amount before maturity for optimum investment output at the time of maturity. These are some of the factors that make NSC one of the best investment options for females.
KVPs are certificates issued by post offices across India offering an annual interest rate of as much as 7.6%. Moreover, KVPs are considered one of the best short-term investment options for females and have no maximum contribution cap, allowing them to invest large amounts at once.
Sukanya Samriddhi Yojana is one of the best saving plans for girl child in India. It is a government-led initiative launched as a part of ‘Beti Bachao, Beti Padhao’ campaign. The idea is to help parents and guardians secure a girl child’s future. This one is mainly for girls aged below 10 years of age.
The tenure for SSY is 21 years. After that, you can open an account at Indian posts and banks. You can earn an interest of 7.6% per annum on your investments.
A few more best investment options for women may fit their investment goal, such as National Savings Certificate (NSC), Post Office Monthly Income Scheme, Fixed Deposit (FD), Gold, Mutual Funds, etc. Real Estate. Further, there are other good options available in the market as well.
The percentage of working women is rapidly growing, and with time it is even more convenient for women to invest and secure their future. Some of the major benefits of investments are as follows:
Long-term goals require long-term investment, buying a house, raising children and etc., require a huge corpus. Sometimes, salary and savings are not enough to fulfil all the dreams. Hence, properly planned investment is essential to achieve all the long-term goals.
Regular investment helps maintain a substantial corpus and provides financial stability to the family. Thus, investment helps achieve short-term or long-term goals without burning the pocket.
All parents want to give their children a top-notch education; with investment, one can put aside a lump sum amount for the child’s education which can later be utilised to fund the higher education of the child.
Before investing in any kind of policy and putting your hard earned money at risk, It is advisable to read the documents of any financial plan carefully before investing in them! The market is filled with a variety of policies, one should understand and go through all the options before opting for the one that suits them the best.
In this policy, the investment risk in the investment portfolio is borne by the policyholder.
Ref. No. KLI/22-23/E-BB/521
