What Is The Best Investment Plan For Long Term?
Long-term investment is considered to be the best investment as long as it is the right investment, and if you have the patience to wait till you are ready to redeem them to meet your financial goals. It is an investment option that is for more than 5 years. It comes with the involvement of less risk and safe returns since it is invested for a long time. Due to which, even if there is a downfall in a market, it won’t affect your capital much.
There are many options for a long-term investment that can provide you with their best services. But have you ever thought what is the best investment plan for long term? Well then, there are best plans:
Public Provident Fund (PPF) and Employee Provident Fund (EPF):
PPF is considered as one of the most popular investment plans that offer an interest rate of 8.7%. It provides an income tax exemption, i.e. the investor is exempted from tax. Under section 80C, it provides all tax benefits.
Employee Provident Fund is a plan for 3 years in which the fund is deposited for at least 3 years. In this fund, the investors are allowed for a partial withdrawal from their funds
SIP in Mutual Funds:
Using the Systematic Investment Plan (SIP), the market risk is reduced by creating a longer duration of time lock with small investments at regular intervals.
Hence, now you know about some of the long term plans that might be a good option for you. One must do thorough research before making any investments, and must choose a plan that best suits his/her requirement and financial standpoint.