Dussehra Special: How To Grow Your Wealth With Smart Investments?

Dussehra is a celebration of good over evil, and it is also known as Vijayadashmi where ‘Vijaya’ symbolises victory. Hence it is auspicious to make a new beginning on Dussehra, especially when it comes to important matters such as purchasing land or shifting into a new home.

As it is one of the most auspicious days of the year, Dussehra is also an excellent time to strengthen your financial health and make investments for your future. Read along to know how to make use of this Dussehra, and find out which investment instruments can help you grow your wealth.

Fixed deposits

To create wealth, you can select a cumulative fixed deposit where the investment benefits from compounding, and when it comes to getting a regular payout opt for a non-cumulative FD. You can choose the frequency at which you receive returns, especially if you’re looking to supplement your income or have retired.

You can consider investing in Bajaj Finance’s Fixed Deposits to secure returns for your family. With high FD interest rates of up to 8.85%, ICRA’s MAAA (stable) and CRISIL’s FAAA/stable rating, you can be rest assured that you will benefit from fixed returns and higher earnings.

Gold ETFs

Indians prefer purchasing gold on any special occasion and Dussehra is one such day. However, instead of investing in physical gold or jewellery invest in Gold ETFs or Exchange-Traded Funds. This is because when you buy jewellery, factors such as the making charges and jeweller’s margin are built into the cost.

This means that if you’re spending Rs.10,000 for instance, the amount of gold you’re getting is worth Rs.7,000. On the other hand, when you invest in gold ETFs, the cost of each unit of the fund is closer to the actual cost of a gram of gold. In addition, these are traded on the market, have no exit costs and are highly liquid too.

Systematic Investment Plans (SIPs)

If you have been meaning to invest more actively this festive season, SIPs are an excellent option to consider. They offer higher returns, carry a limited amount of risk and take the stress away from investing as money managers handle your investment and decide which funds to invest in.

By investing as little as Rs.1,000 each month, you can easily earn returns to the tune of 12% or more. If your risk appetite is moderate, SIPs should be an important part of your portfolio.

You can invest in many other investment avenues too, but with rising market volatilities and increasing interest rates offered by leading financiers, fixed deposits are indeed, one of the best investment avenues.

If you seek absolute security it doesn’t get better than fixed deposits. They aren’t linked to how the market performs and so offer assured returns. In addition, company FDs such as Bajaj Finance FDs offer higher returns as compared to bank FDs. What’s more, you can choose your interest option on the basis of your needs.

Investing in FDs is easy too. You can do so online and use an FD calculator to forecast what your returns will be before you invest.

This Dussehra, make smart investment decisions to create wealth and secure your future. Evaluate all the options before you and build a balanced portfolio for the best mix of safety and high returns.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes