Make money through Bajaj Finance in 2019-20 with these top investment tips
The start of a new financial year gives you a golden opportunity to restrategize your investment plans with Bajaj Finance. When you are working on a new plan for 2019-2020, keep in mind the volatilities and rough market trends of 2018. Financial experts are predicting that the choppy waves have settled down with major policy changes and financial declarations already carried out in 2018. Even though the Lok Sabha election results are in sight, no major disruption will haunt investors this year, so it’s time to weigh risk and reward and create a balanced portfolio.
Here are a few money lessons for making smart investments with Bajaj Finance in 2019-20.
Invest in FDs for security
FD rates had been hiked during the end of 2018, owing to repo rate hikes. However, while concluding the bi-monthly policy declarations some time back, the RBI slashed the repo rate by 25 basis points. It stands at 6.25% now, as opposed to 6.50% in the recent past.
Keeping this rate change in mind, you must note that the FD rates you enjoy right now may soon alter. So, to reap higher returns, invest in FDs right now and allow your funds to grow safely over time.
For a higher payout, invest in FDs from reputed issuers like Bajaj Finance. Backed by ICRA’s safest MAAA rating and CRISIL’s highest FAAA rating, Fixed Deposit offer you assured returns of up to 8.75% along with an extra 0.25% on renewal. Currently, this is one of the best FD interest rates available in the market. Moreover, you can calculate your returns in advance using the Bajaj Finance FD Calculator, which is available online.
Invest in SIPs to earn high returns through market corrections
The financial market can be very unpredictable; however, experts opine that while the markets may be in flux due to the elections and other reasons, it will stabilize over time. Thus, as an investor this year you should aim long-term. Project your goals and plan your investments in such a way that whatever the fluctuations in the short-term, you can make the most via market corrections in the long run. Choose SIPs to do the trick for you. This allows you to invest every month and earn high returns in the long term. SIPs are known to earn 12% to 15% interest over time, so ensure you add them to your portfolio this year.
Make property a part of your portfolio
The external benchmark system has already made its way into the market. Unlike earlier, now every lender has to fix the interest rate for the loans they provide by choosing rates specific to any of the following benchmarks: RBI repo rate, the 91/182 days Treasury bill yield or any other benchmark market interest rate. This system has been brought to action to add more transparency to the lending process so that the benefits of interest alterations can reach borrowers directly. Make use of this system and borrow a highly competitive loan to invest in a property. It is likely that you will get a cost-effective deal thanks to lenders customizing their loan terms to suit the present benchmark regime.
Choose NPS to make your returns count
Last December, the government removed the impediment on tax exemptions for NPS withdrawals. Earlier 40% of the withdrawn amount was tax-free, but now 60% of the corpus enjoys the tax-free status. Then again, earlier in October, the Pension Fund Regulatory and Development Authority reshuffled the equity allocation for NPS, allowing investors to allocate up to 75% of their investment in equities. Added to this, as an investor you can claim a 10% tax deduction under Section 80CCD (2) basis the portion of your basic salary your employer contributes on your behalf to the NPS account. All these positives make NPS a sure shot winner and a must-have for your folio this 2019-20.
Along with these smart investment ideas, you can also choose to buy a multi-year health insurance plan. By doing this, you pay a reduced amount as premium in order to buy a plan suited for 2 to 3 years or more. This way, you save both on the premium and your income tax. This is because you can claim tax deductions basis your one-time premium in parts in 2 consecutive years, provided you exhaust the Section 80D limit. Armed with these top investment lessons you can march ahead in 2019-20 making more savings as compared to the previous years.
Using an Online FD Interest Calculator prudently thus gives you access to valuable information that can help you make better investment decisions. So, get started now and see how you can grow your wealth by investing in the Bajaj Finance Fixed Deposit online.