Bank :One of the safest and oldest form of investing, A fixed deposit (FD) is a financial instrument provided by Indian banks which provides investors with a higher rate of interest than a regular savings account, unlike savings deposit a FD amount can only be withdrawn when the deposit reaches fixed maturity term.
Check the Latest fixed deposit interest rates offered by various Indian private and public sector banks here: Which Bank in India offering Best Fixed Deposit Interest Rates – FD Comparison
Insurance: The term Insurance became synonymous to life insurance policy(Endowment Assurance and Money Back policy), but in modern days there are many types of Insurances, One form of insurance which might help you is Health Insurance Policy, as the saying goes Health is better than wealth, with modern diseases and treatments costing lakhs of rupees a Health Insurance Policy for you and your family may come to your rescue, if you start early at an younger age the premium will be lesser and will increase as you grow older. So, better plan and start early and invest in your health.
As the saying goes A rupee Saved is rupee earned, various years Union Budgets of India had proposed relaxation for paying Income tax to certain limit through various Tax savings schemes. Here is a list of certain steps which can help you save your income and minimize your Income Tax.
Interest on Housing Loans
Life Insurance Plan
House Rent Allowance