Top Investment Plans for housewife

We have always observed that females save the money at its best. However, the hard fact is the knowledge of financial planning is less in females than males. It is good to save money but it can become best if you know how to grow your funds.

Here are few investment plans for housewives which can help them to achieve their dream goals in a safe and secured way :

  • Fixed Deposits / Recurring Deposits: A fixed deposit (FD) or Recurring Deposit (RD) is a financial instrument provided by banks which provides investors with a higher rate of interest than a regular savings account, until the given maturity date. If you want to start with small amount then go with RD wherein with just Rs.500/- deposit per month you can make a huge amount. If you want to go for lumpsum amount then go for FD. In FD, you have various interest withdrawal options. If you want to have a regular income you can go with monthly interest scheme. 
  • Post Office Schemes: Various schemes like Savings account/FD/RD/Monthly Income Scheme PPF/ National Savings Certificates (5-10yr) are some good options for savings infact, some of them also act as a collateral.
  • Public Provident Fund (PPF):  It is one of the popular investment plan where your investment amount is at low-risk. It is important to note that this plan is not market-linked. PPF comes with 15 years of lock-in period before which funds cannot be withdrawn completely. With minimum Rs.500 annually you can invest in PPF account.
  • Atal Pension Yojana (APY) : APY is open to all bank account holders in the age group of 18 to 40 years and the contributions differ, based on pension amount chosen. Subscribers would receive the guaranteed minimum monthly pension from Rs. 1000 to Rs. 5000, at the age of 60 years. Subscribers can make contributions to APY on monthly/ quarterly / half-yearly basis and can voluntarily exit from APY subject to certain conditions, on deduction of Government co-contribution and return/interest thereon.
  • Gold : You can protect your purchasing power as inflation is steadily rising. You can protect your portfolio and wealth if an economic crisis, you would be relatively better off with gold than being in paper money or paper assets. Purchase gold when it is at its low rather going for festival seasons.
  • Health Insurance : Health is Wealth ! You never know when your investments are utilized to pay off all your hospital bills. So, it is essential to have a health insurance with subsequent amount. Before going with any health insurance company, it is important to understand that your health insurance plan is widely accepted across majority of hospitals and clinics.  

Writer : Dr. Mamta Godiyal 

Please Note : Investment strategies can vary from one person to another and one goal to another depending on their financial situations, objectives, and risk tolerance. These are author’s own views. Readers are requested to do thorough research before investing as investment is subject to owner’s risk.)