Investment Tips: Generally any investor invests money where they get less risk and great returns. The risk is highest in the stock market. Here when money doubles, triples to four times. Do not know. When do you get a shock in the stock market? It’s also not a guess.
So the question arises as to where to invest. Due to which the money is also doubled and the risk is also very less.
If you are looking for safe investment then you can deposit money in various schemes like Fixed Deposit, PPF, Sukanya Samriddhi Yojana, Kisan Vikas Patra (KVP), National Savings Certificate (NSC) and National Pension Scheme (NPS). Better interest rate is available here.
Follow this formula for investment
If you want to know how long it will take for your money to double, then you can follow the rule of 72 formula. Now the question arises that which formula is this after all? We will also tell you about this formula in detail.
Knowing this, you will understand how long it will take for your money to double. According to experts, the interest you will get under this formula has to be divided by 72. Suppose you have an interest rate of 4 per cent per annum.
In this case, you have to divide 72 by 4. Its result will be 18. This means that it will take 18 months for your money to double.
You can invest here
Sukanya Samriddhi Yojana: This is a government scheme. It has been started especially for the girls. If you open a Sukanya account in the name of your daughter, your money will double in 9.4 years. At present, interest is being paid at the rate of 7.6 per cent per annum in Sukanya Yojana.
Bank FD: After increasing the repo rate of the Reserve Bank, most of the banks are also increasing the interest rates of their FDs. At present, an average interest of 6 percent is being given on FD. In such a situation, it will take about 12 years for your money to double here.
PPF: Public Provident Fund ie PPF is also a better option for investment. It is currently getting interest at the rate of 7.1 percent per annum. So it will take 10.14 years for your money to double.
Kisan Vikas Patra: Kisan Vikas Patra scheme is also better in terms of investment. At present, the scheme is getting guaranteed interest rate of 6.9 per cent per annum. In such a situation, your money will double in 10.43 years.