Is it possible to get high returns with very less or no risk rather than PPF? The answer is yes, definitely. Some of the options are available which will give you huge profit. Schemes like POTM, KVP etc. are available for that. Everybody wants good profit. Some people who are able to save and are in position to invest then these options will be perfect for them. Let us have a brief discussion about best investment other than PPF.
Post office time deposit (POTM)
When your PPF limit is complete then these is going to be the perfect option to choose. In this the interest rate is up to 6.7%. This provides facility in four terms i.e. for 1 year, 2 years, 3 years and 5 years. This scheme will also help you to save the tax. If you are using this then it may be help in reduction of tax under section 80C. Same as PPF the interest rate is fixed by government in every year.
Kisan vikas patra (KVPk)
This is another good option available in the post office. This scheme will provide you a interest of 6.9%. The minimum amount to be invested is Rs. 1000 but there is no limit for maximum amount. This is also risk free scheme and available at all the post offices of India. The interest rate is fixed in every quarter by the government. The scheme has a special feature that it will double the money in 9 years and 4 months i.e. 112 months. there is the best investment other than PPF, there is no risk of loss of money in this scheme.
Sukanya samridhi account
This is another high interest paying facility available. But, the condition is that this facility is available only for those who have girl child. It is the highest interest giving account from other two i.e. 7.6%. This can be avail for maximum 2 girl child. The girl child under the age of 10 can avail this. The maturity will be when the child will touches 21 years of age. You can get half of the total money at the age of 18 years if required. This will also provide you relaxation in tax under section 80C. If you have girl child of age below 10 years then must avail this scheme.
NSC National saving certificate
This is another popular option available to which provide good interest. It provide interest of 6.8%. The maturity period is 5 years. This scheme can be brought from the post office. The minimum amount of Rs. 100 is required and there is no limit for maximum. This scheme will not help you to save money. This is also risk free. Once you invested the money you will get it back with some money added always.
This is one of the oldest and one of the most famous schemes. This is helpful to invest your money without risk. It is available at almost all banks and small finance offices. This is old traditional and famous way to increase your money. The maturity period varies with your selection of scheme. If you use the term of 5 year maturity then there will tax exemption under section 80C.
But, the interest will be taxable. Most banks and other financial institution provide interest rate of approximately 5%. This is interest rate is little low as compared to other. But, there is no risk of money loss.
So, these are some of the best investment other than PPF with no risk option available to give you high interest rate. Many people are looking to invest in it many had already done. If you found these options profitable then try to avail the scheme.