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Insurance Helpline- |
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0-9818716151 |
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Mutual Fund Helpline- |
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0-9910311120 |
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You have following investment options to save your Income Tax |
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LIFE INSURANCE
If you want to insure your life along with saving tax , you should choose life insurance.
Life Insurance is usually a long term commitment wherein you save tax every time you pay premium, be it yearly, quarterly or monthly.
You have the option to choose from various type of plans– term insurance, whole life policy, money-back policy, endowment policy, ULIP and more… more details |
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MUTUAL FUNDS
MF is an high-risk high-yield investment. Tax saving schemes have lock-in period of 3 years. MF is the best option in today’s market scenario since NAV of many schemes have plummeted more than 50% in past 1 year.
Top-5 Tax Saving Schemes 1. HDFC Tax Saver Equity Fund– Growth 2. Sundaram BNP Paribas Taxsaver-Growth 3. TATA Tax Advantage Fund-1 4. Taurus Libra Taxshield– Growth 5. Reliance Tax Saver Fund - Growth |
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NSC
NSC is the acronym for National Saving Certificate, a scheme offered by Post Offices
Rate of Interest– 8% (compounded quarterly) Tenure– 6 years
NSC is a conventional and no-risk low-return scheme, and can be taken from any post office. Money cannot be withdrawn before maturity but loan can be availed. |
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BANK DEPOSIT– 5 Years
Simply investing in a fixed deposit in a bank for the minimum tenure of 5 years saves your tax. Different bank offer different rate of interest which ranges from 7% p.a. to 12% p.a. depending on tenure and amount to be invested. Senior citizens generally get additional 0.50% rate.
If you are looking for assured return and if you get interest in upper half of the range, bank FD is a good tax-saving option. |
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PUBLIC PROVIDENT FUND
Better known as PPF, it demands long term commitment but offers very low interest rate.
Rate of Interest– 8 % per annum Tenure- 15 years Min Investment– Rs. 1000/- per year Max Investment– Rs. 70,000/- per year
Investor is bound to pay minimum Rs.1000/- every year till maturity. You can partly withdraw money after 7 years from the date of commencement. |