Best Tax Saving & Risk Free Investment Options in India for 2015-16

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We are in the middle of the financial year 2015-16. So you might have already done or are looking for the best tax saving & risk free investment options in India.

Many of us have done huge investments in LIC policies, Bank FDs and many other tax saving financial products to save tax at last moment. With this kind of practice, sometimes we have to take some decisions which we might repent later on.

So for the next year financial planing, you can start planning from the beginning. If you simple research on the available financial products in current market where you can save tax and also investment will be safe and secure then there are couple of options.

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Here we are going to discuss about the Bank Fixed Deposit schemes. These are one of the most secure & risk free Investment Options in India. This tax saving product provide you a fixed income for a fixed tenure term.

Risk Free investment options in India

 

Bank Fixed deposits: Risk Free Investment Options in India

In these kind of schemes, you can invest maximum of 1 lakh amount in any bank. Mostly you will get an average interest rate of 9% per annum. There is a locking period of 5 years. You can pay the amount on monthly basis, quarterly or yearly basis also. You can even start a Fixed Deposit scheme with joint names but only the first holder will get tax benefit.

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You can save tax under section 80C up to maximum Rs 1 lakh. If you are in 10% bracket then you can save up to Rs 10,000/-, if you are under 20% bracket then you can save 20,000/- etc.

Disadvantages of bank fixed deposit

There are also couple of limitation of such investment but it will hardly matter if you look for secure and a long term result. You cannot exit from such schemes before 5 years maturity. This is a fixed locking period. Some banks also offer 10 years period. Also, you cannot take any loan against these schemes. In case your investment options get matured, you have to invest freshly further. Means it will not get renewed or continue after the specific tenure.

Also Read  6 Steps to Remember While E-file Income Tax Return

Top 10 Latest Bank Fixed Deposit Interest Rates in India

Latest Bank Fixed Deposit Interest Rates in IndiaSo if you love to do things on time and with perfect planning and also you are a low risk investor then Bank Fixed Deposit schemes are the Best Tax Saving & Risk Free Investment Options in India for you. You can start planning for them right now for the next year income tax planning.

2 COMMENTS

  1. Hi Manidipa,
    Its so sweet of you that you are a blogger by passion. You please assist me to know the govt schemes if any; that are being already have or just newly launched to help fulfill its mission for the great socio- economic charitable works for the upliftment of those who are really needed to be taken under consideration for their self orientation with life value and providing a one time assistance conforming to their pscho-social and economic requirements. one time assistance, which are being or are to be designed in such a way that no intermaditory sucker could ever be able to suck all the fruits on way before these reaches the needy beneficiaries. It there any provision laid down by the govt that an NGO having certain characteristics or any charitable or religious organisation like ISKON or any other dedicative committees of the most ancient reputed temples etc having dedicated their lives in the name of All’s well and have had taken oath for selfless devotional services to all the living being and other entities to meet the successful ends .. ? Please let me know all the concerned central govts various schemes that are designed for the aforesaid purposes with an initiation for assisting our country as a whole for the great socioeconomic equilibrium and with a well balanced perspective for our Great India with a new sun. Please let me know what does the govt do .. ? I need to know all these and akso need wholehearted supports, some good company and assistance from individuals, groups of people, donors, sponsors as well as govt to establish such a world class organisation whose reflection will glorify the entire world. Please specify all concerns clearly so that it benefits my hopes and aspirations to provide selfless service for the benefit of all the living and non living entities of our big family. Thanking you. With love and regards.

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