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Employees covered by the scheme could put away a big chunk of their pay to earn 8.5% tax free returns. Till last year, the Employees’ Provident Fund was the best long-term investment in debt. Senior citizens (above 60 years) can consider the Senior Citizens’ Saving Scheme, which offers 7.4% returns and pays the interest every quarter.
NSCs cannot be foreclosed, though Kisan Vikas Patras can be sold after 30 months. The problem is they are not very flexible.
These small savings schemes offer higher interest than bank deposits while the sovereign guarantee makes them completely safe. If you are willing to wait for five years, you can also consider Post Office schemes such as National Savings Certificates, Kisan Vikas Patras and the Monthly Income Scheme. The time horizon will define which instrument is suitable for you. But these arbitrage funds are treated as equity funds for tax purposes, which means the short-term gains will be taxed at 15%. The category has given 4.18% returns in the past one year, which is comparable with the returns generated by debt fund categories. But these funds will not be affected because they hold very short term instruments.įor those focused too much on minimising tax, arbitrage funds can be a good option. Government bond yields have risen in recent months, and could go up further if inflation rises. The other option could be liquid funds and ultra short duration debt funds. This will bring down the overall tax on the interest earned by your bank balance. Under Sec 80TTA, up to Rs 10,000 interest on the savings bank balance is tax free. Some banks, including Kotak Mahindra Bank, IndusInd Bank, Bandhan Bank, Lakshmi Vilas Bank and RBL Bank offer up to 6-6.5% interest on the savings bank account balance if the amount exceeds a certain threshold. In fact, if your bank offers a higher rate on the savings account balance, you can even consider keeping the money in your bank account. Even if the return is higher by 1-2 percentage points, it will not make a big impact in 3-6 months. When the investment horizon is so short, the focus should be on capital protection and liquidity and not on returns. The returns will not be very high, but that should not be a concern. If you hold a large amount of cash (sale proceeds of property or a matured investment) and need to redeploy it in 3-6 months, keep the money in a fixed deposit or a liquid fund. We have made four broad categories of financial goals based on the investment horizon. “The investment choice will depend entirely on how soon you need the money,” says financial planner Pankaaj Maalde. This week’s cover story looks at the various fixed income options investors and examines their utility for investors. They should not expect the returns that debt investments gave 2-3 years ago,” says Raghvendra Nath, Managing Director of Ladderup Wealth Management. “Fixed income investors need to revise their returns expectations. Except for credit risk funds, all categories of debt mutual funds have delivered 4-6% returns in the past one year. Other debt options have also given muted returns. But interest from fixed deposits is fully taxable, and post-tax return in the 30% tax bracket is a niggardly 3.7% that lags consumer inflation in urban areas by more than 130 basis points.
The five-year fixed deposit rate of SBI has dropped from 6.85% in late 2018 to 5.40% now. Whatever the situation, you are looking for a safe investment avenue that gives assured returns.įalling interest rates and changes in tax rules have altered the fixed income landscape in the past 2-3 years. Or maybe you want to save for an important financial goal that’s round the corner. Or you booked profits in stocks and are sitting on cash. You just sold some property and have a large amount in your bank.
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