Secure Your Future
Best Investment Plans to Grow Your Funds in 2023
Are you finding ways to multiply your money, but don’t know how? Here are some of the best investment plans that will help fulfil your dreams.
We always find measures to multiply our money. The best way to manage your finances is by saving and investing a part of your income for future goals. The most efficient and smart way to multiply your money is by investing in a short term plan or a long term plan based on our goals. A short term plan refers to a period of 1-5 years also known as short-term investments. A long term plan refers to more than 5 years also known as a long term plan. Both the plans have their advantages such as in short term investment money is not locked in for a long duration and short term goals like buying a car/bike, short vacation etc, can be accomplished using the investment returns. Whereas long term plans are risk-free and give greater returns to accomplish long term goals like higher education, purchasing a house, etc.
To get the best possible returns out of your investment let us discuss some of the best investment options available in the market.
Why Should You Invest?
What Are Investment Plans?
Investment Plans Are The Best Way To Multiply Your Money While You Sleep!
In simple words, Investment Plans are the financial tools that help an individual to
create wealth so that the person’s financial status is secured to fulfil their
future goals or to safeguard the family from any unforeseen situations.
In a way, an investment helps us to stay on the right path by avoiding any unnecessary
expenses in life. There are different forms of investment plans available which are
discussed in detail.
UNDERSTANDING THE BASICS
Importance of Having Investment Plans!
The journey Of Wealth Creation Starts With An Investment Plan!
We all are waiting for the golden opportunity to fulfil our dreams! This can be achieved
only if you have a sound Investment Plan. The investment will help to feed your dreams
to turn into reality and also make you financially strong to meet any challenges in
life.
Here are just some of the reasons to have an investment plan:
Make You Prepared Financially
You never know when life takes an unexpected turn and in no time we become victims of an unexpected injury, illness, or even loss of life. At such challenging moments, an Investment plan ensures our family is financially protected.
Help You Combat the Inflation
The rising inflation will soon engulf our savings if proper planning of investment is not made. The only way to beat inflation is by investing our money in plans that give high returns. To beat the rising cost of health care a health insurance plan can be taken, for education cost a long term fixed deposit scheme can be taken, to purchase a house investing in mutual funds can be an option.
Key To Fulfill Your Dreams And Your Family’s Dream As Well
The key to fulfilling your goals is an Investment plan that brings you one step closer to your dreams! By inspiring you to follow a disciplined or systematic approach towards savings, these plans aid in accumulating a lump sum amount, so that it can be utilized to make your dreams come true.
Never Run Out Of Money
To ensure that you have full command of your financial future, compare all the investments plans at insurejoy.com now, and buy the best-suited investment plan according to your needs.
At a glance
2023 Top Best Investment Plan Options in India
The important point to remember before stepping into the investment plan is to choose the investment option based on the financial need and have a risk management profile.
Some of the best investment plans in India are;
- Fixed deposit
- Mutual Funds
- Unit Linked Investment Plans (ULIPs)
- Monthly Income Plan
- Senior Citizen Saving Scheme (SCSS)
- Sukanya Samriddhi Yojana
- Public Provident Funds (PPF)
- Liquid Funds
- Bonds And Gold Investment
Compare & Choose
Different Types of Investment Plans
It is best to choose an investment plan that gives good long term returns, with tax-saving benefits and good capital appreciation.
An investment has to be made based on your risk profile. Your level of risk appetite will determine the type of investment plan you should choose. Based on the risk level the investment is broadly classified into three types:
- Low risk
- Medium Risk
- High Risk
| Type of Risk | Investment Plan | Features |
|---|---|---|
| Low | National Pension Scheme |
|
| Low | Senior Citizen Saving Scheme |
|
| Low | Public Provident Fund | Government-backed Retirement Investment plan |
| Low | Bank Fixed Deposit | Guaranteed returns and no risk |
| Low | Pradhan Mantri Vaya Vandan Yojana | Provides a fixed regular income with 8% returns |
| Low | Sukanya Samriddhi Yojana |
|
| Low | Gold | There is a steady increase in the gold price |
| Medium | Debt Funds | Mutual funds invest in bonds |
| Medium | Balanced Mutual Funds | The investment is balanced between debt and equity |
| Medium | Arbitrage Funds | Earns better returns on your money than a savings account |
| Medium | Monthly Income Plus | It is dividend-oriented monthly investment schemes |
| High | Equity Mutual Funds | Mutual investment in the stock market |
| High | Direct Equity | A long term plan to obtain ownership rights of the company |
| High | Unit Linked Investment Plans | It has double benefits of investment and life insurance cover |
1. Low-Risk Plans
Investors willing to gain capital appreciation through a low-risk investment plan will get guaranteed returns with a steady growth of capital that has a minimum loss. These plans give good returns only if they are locked in for a long term investment.
National Pension Saving Scheme
This is a government based scheme that is managed by the Pension Fund Regulatory and Development Authority. This is a long term retirement based scheme. The minimum funds required to keep this account active is Rs. 1000. This plan is a combination of many plans like government funds, corporate bonds, fixed deposits, liquid funds, etc.
Fixed Deposit
This is a government based scheme that is managed by the Pension Fund Regulatory and Development Authority. This is a long term retirement based scheme. The minimum funds required to keep this account active is Rs. 1000. This plan is a combination of many plans like government funds, corporate bonds, fixed deposits, liquid funds, etc.
Gold Investment
A plan to invest in Gold can never go wrong. This investment is worth every penny as the returns on investment are in trend with the rate of inflation. Gold can be purchased online through SIP. A small amount can be paid for a fixed period and the gold can be redeemed once the payment for the fixed tenure is complete. As per the Economic Times, gold is considered as the best asset which has consistently gained with a 50% increase in the last year and a 12.3% annualised CAGR. Gold can be bought as coins or employing paper gold. Gold ETFs (exchange-traded funds) generate a passive income. The gold ETFs are represented in the form of units where the units represent physical gold. These units can be redeemed anytime.
Public Provident Funds
Public Provident Fund is quite popular and the most preferred investment by many as it is safe, reliable and risk-free. The lock-in period remains for 15 years. The principal amount and the interest received are tax-free. The PPF has floating interest rates and is revised every quarter by the government. A minimum of Rs. 500 can be invested in this scheme.
Pradhan Mantri Vaya Vandan Yojana
This scheme is designed especially for senior citizens. The interest rates are 7.4% per year. The tenure of this scheme is 10 years. The senior citizens can reap the benefit amount as monthly, quarterly, half-annually or annually. The maximum amount of pension that an individual will receive every month is Rs. 9,250 and a minimum amount of Rs. 1000. A maximum amount of up to Rs. 15 lakh can be invested in this scheme. The account holder will start receiving money after maturity, but in case of the account holders death, the beneficiary will continue receiving the amount.
Sukanya Samriddhi Yojana
This plan is specifically designed to cater for the needs of a girl child. The plan has gained huge popularity as it has guaranteed returns and is safe since it is a government-backed scheme. The entry age is right from the birth of a girl and the maximum entry age is 10 years. A minimum of Rs. 1000 and a maximum of Rs. 1.5 lakh can be deposited every year. The plan tenure is up to 21 years or until the marriage of the girl after 18 years. The scheme offers a current rate of 7.6% which is compounded annually. The amount and the interest received on maturity are all exempt from tax.
Senior Citizen Saving Scheme
As the name suggests this is purely a retirement scheme for retired people. This scheme is available in the post office for senior citizens above 60 years of age. The tenure of the scheme is 5 years and can be extended for 3 years. A maximum of Rs. 15 lakh can be invested. The interest rates at the time of opening the account are considered and will remain the same until the plan matures. The interest rate is taxable.
2. Medium Risk Plan
The medium-risk plan includes investment plans that offer a balanced investment. The medium-risk plan has a mix of debt and equity securities and generates steady returns with moderate risk. Some of the plans that have moderate risk are:
- Balanced Mutual Funds
- Arbitrage Funds
- Monthly Income Plus
3. High-Risk Plan
A person who is ready to take high risk and their main focus are to get large returns with a long term capital growth can invest in these type of plans. High-risk plans are subject to high fluctuations. There are high chances to get huge returns but at the same time can face heavy loss too. Some of the high-risk investment plans are discussed below.
- Balanced Mutual Funds
- Arbitrage Funds
- Monthly Income Plus
Equity Mutual Funds
Equity mutual funds are a type of mutual fund wherein the investments are made in stocks or shares of the company. Equity funds are of two types i.e., Active or Passive. In Active Mutual Funds, the performance of the company and thorough research of the market is done by the fund manager before investing and invests in the best stocks. At Passive mutual funds, the fund manager invests in popular and standard stocks say Nifty 50 or Sensex. Equity is further divided based on Market Capitalisation as Small cap, Mid cap or Large-cap funds.
Direct Equity
Direct equity refers to purchasing stocks from the stock market. This investment is subject to market risk. Investing in stocks requires certain skill and knowledge, to choose the right stock. This plan delivers high returns than any other investment when used as a long term investment. But there are also chances of prices falling. When a person chooses this investment plan he/she should be wise enough to manage risk management by keeping a stop loss. Keeping a stop loss and target will help to prevent heavy loss in the stock market.
Unit Linked Investment Plans (ULIPs)
ULIPs is an investment plan that has two parts i.e. the investment part and the insurance part. In this type of plan, the insurer invests a part of the premium in shares and the remaining amount is utilized in giving a life insurance cover. The fund managers track and manage the investment part so the investor is saved from tracking the investment. Though ULIP is an investment as well as an insurance product, one should treat it as an investment product.
Market Linked Plans
Best ULIP Plans to Consider in India 2023
The best investment plan should contain the following features.
- The choice to invest in a plan and flexibility to withdraw anytime
- Safer returns with minimum risk
- Gives tax benefits and other benefits option
- Flexibility to invest the desired amount
| Investment Plan | Type of Plan | Entry age | Maturity age | Policy tenure | Benefits |
|---|---|---|---|---|---|
| Bajaj Allianz Retire Rich | ULIP | 30 —73 years | 80 years | 7 – 30 years |
|
| Aviva iGrowth | ULIP | 18 – 50 years | 60 years | 10, 15,20 years |
|
| Aegon iInvest | ULIP | 7 – 55 years | 70 years | 10, 15,20 years |
|
| HDFC Life Click2Invest | ULIP | 30 days – 65 years | 75 years | 5 – 20 years |
|
| ICICI Pru Smart Life | ULIP | 20 – 54 years | 20 – 64 years | 10 – 25 years |
|
| Kotak Invest Maxima | ULIP | 0 – 65 years | 75 years | 10, 15,20 years |
|
| TATA AIA Wealth Maxima | ULIP | 30 days – 60 years | 100 years | No limit |
|
Benefits of
Buying Investment Plan
Investment plans make your dream come true!
With a new job in hand or you are entering into a role of parenthood, you must be all
prepped up to meet the upcoming responsibilities and challenges! A sound investment plan
will give you a happy and secure future.
Having an investment plan in our portfolio makes us a more systematic and disciplined
approach towards savings, thereby building a corpus of funds and a lifetime of financial
security.
The first and foremost benefit of Investment Plans is that they help multiply the money
that will sit idle and ensure that you lead a healthy and fulfilling life.
Here are some of the benefits of Investment Plans:
Generate Income
The greatest advantage of investment is that various avenues offer attractive discounts to earn some extra income in the form of bonuses (guaranteed & non-guaranteed), dividends, interests, and much more. You can easily earn capital gains from the sale of equities, debts, mutual funds, and even real estate.
Planning Based On Your Dream
As discussed earlier, it is wise to choose a plan according to our purpose in life. For instance, short term goals like buying a car, or a bike, etc, will require a different sort of investment. For long term dreams like purchasing a house, higher education, marriage, etc, require long term investment planning with substantial returns.
Avail Tax Benefits
Most of the plans like PPF, ULIP, Sukanya Samridhi Yojana, etc, bring with them an array of tax benefits. The premiums paid for life insurance policies are covered under Section 80C of the Income Tax Act, the maturity/death benefits are also tax-free under Section 10(10D). Thus an investment plan not only gives returns but also provide tax saving benefits.
Substantial Accumulation of Future Wealth
A sound and solid investment plan is the key to wealth creation. Savings and investment go hand in hand and is the best way to multiply your sleeping funds. Investing in the right plan can help you to create substantial wealth for a secured future.
Protection Against Risks
Life is uncertain and we never know what is in stock for us tomorrow!
For such emergencies, an investment plan that provides life cover along
with return on investment will work as a safety net in financial terms.
This will allow a person to be prepared and protect himself and his
family from unpredictable situations.
A seed of investment can grow big and help nurture your dreams into a
beautiful reality!
Nevertheless, before diving into a conclusion, it is advisable to
compare investment plans with insurejoy.com, to truly enjoy the benefits
of investment
Best Short Term
Investment Plans in India for 2023
The tenure for short term plans usually ranges from 1- 5 years. They are best to fulfil our short term goals. Some of the best short term plans that give high returns are discussed below.
| Investment Plan | Risk | Investment Tenure | Returns in % |
|---|---|---|---|
| Fixed Deposit | Low | 7 days – 10 years | 1.85% pa – 6.95% pa |
| Debt Mutual Funds | Medium | 3- 12 months | 7-9% |
| Recurring Deposit | Low | 6 months – 10 years | 2.5-7% |
| Arbitrage Funds | Low | 3 months – 5 years | 7-9% |
| Post Office Fixed Deposit Rates | Low | 1 year- 5 years | 5.50-6.70% |
| Savings Account | Low | Lifelong | 3.5 - 7.1% |
| Fixed Maturity Plan | Low | 3-year lock-in period | Subject to market |
| Liquid Funds | Medium | 3-5 years | 4-7% |
| National Savings Certificate | Low | 5 years | 6.8% |
| Large Cap Mutual Funds | Medium | 3-5 years | 8-13% |
| Stock Market | High | 1 month – 5 years | 10- 100% |
| SIP in Equity Mutual Funds | High | 6 months – 5 years | 8-5% |
Best Long Term
Investment Plans in India for 2023
Now let us take a look at some of the best long term plans that can fulfil your goals.
| Investment Plan | Risk | Investment Tenure | Returns in % |
|---|---|---|---|
| Bank Fixed Deposit | Low | 5 years – 10 years | 3%- 6.5% |
| Public Provident Fund | Low | 15 years | 7.1% |
| National Savings Certificate | Low | 5 years | 6.8% |
| Sukanya Samriddhi Scheme | Low | 21 years | 7.6% |
| Unit Linked Insurance Plan (ULIP) | Medium | 5 years | 8% |
| Stocks | High | More than 5 years | 12- 30% |
| Mutual Funds | High | More than 5 years | 12- 30% |
Things to remember
Formula to Double Your Investment
Time, patience and perseverance is the key mantra to double your investment. There is no such plan that can double your investment overnight. With smart investment and some amount of time, the money can see substantial growth.
There is a formula to calculate the amount of time that the investment will take to double the money.
Rule of 72 is the formula that many investors use to calculate the amount of time.
Time to double the money = 72 / rate of interest
Example: Raju chooses to invest Rs. 10,000 in Mutual Funds and the average rate of interest is 8%.
So the time taken to double the money will be = 72/8 = 9 years.
How to Choose
Your Ideal Investment Plan
insurejoy.com will guide you to choose your ideal investment plan. Certain factors have to be kept in mind before choosing the right plan. Rather than just relying on benefits various other factors have to be considered.
Set Your Goal
Goal-setting helps you to determine the time frame required to achieve that goal. It is easier to choose a plan when you understand the time required to fulfil your dream requires a short term plan or a long term plan. According to experts, a long term investment will give you more benefits.
Selecting a Reputed Company
It is vital that choose an investment option from a reputed organisation that has a good brand image. This will create confidence that the invested money will stay safe.
Death Benefits
If you are investing in term insurance online death choose a plan that provides maximum death benefit so that your family doesn’t suffer in your absence.
Flexibility to Withdraw Money
It is best to select a plan that has a partial withdrawal option. What is the use of creating wealth if you cannot access it when needed? Select a plan that gives you the freedom to withdraw money.
Risk Management
Risk management is an absolute necessity when you invest in mutual funds or the stock market. You have to first decide the amount of risk that you can bear. Then multiply that risk number by 15. So, the amount of loss that you can bear after losing 15 trades is your risk rupee. Example: You invest Rs.100000 in Mutual Funds or stocks. The risk you are ready to take per trade is Rs. 1000 so 15x1000= 15,000. So, your risk rupee is Rs. 15,000. Choose a plan with a low-risk profile if you are not willing to lose any money.
Diverse Investment
Instead of investing all your money in a single plan choose to diversify your portfolio. Invest in insurance plans, mutual funds, Fixed deposits, etc. Diversifying the investment portfolio will balance the risk profile.
Expert’s Tips
To Imply Before Investing in a Plan
Here are some tips from our experts that should be kept in mind before investing in a plan.
- Sooner the Better Age is the biggest factor to consider before fund planning. Early bird gets the catch is true when it comes to investment. Set your goals at a young age and start investing at an early age. The number of years wasted is equal to the money you waste. Design your investment portfolio now.
- Proper Planning of your income has to be made. Your monthly income can be dispersed as 30% for loan instalments, 30% must go towards investments (savings). The investment has to be diversified in various funds. Never invest in just one scheme. This can be achieved by scheduling a SIP to automate this habit. The rest 40% of your monthly expense can be used for your living expenses.
- Plan According Your Debts If you have any car loan, a house loan, an education loan or any other debt consider investing in a scheme based on the loan payback years.
- Invest In Your Future Income It is best to invest in a plan that can replace your monthly income in unforeseen situations For example if you are earning 20 lakh per annum then invest in a scheme that brings the benefit of at least 15 to 18 lakh per annum, in case you suffer a permanent or partial physical disability and are not able to earn.
- Invest To Make Your Life Milestones Memorable Plan to save for your important milestones in life marriage, higher education, or unforeseen events like critical illness treatment for self or parents. Investing in a plan with flexible withdrawal at the system is best.
- Enquire About The Benefits If you are already having a group policy provided by your company, then you must enquire about the benefits you will be getting from that policy so that you can exclude those benefits out while investing in a scheme, and look for other major benefits.
- Invest Wisely If you have an income source coming from any other family member like your spouse and the expenses are being met by their income then it cannot be a part of your saving plan. If your family or spouse has invested in any plan then the benefits you receive should be considered before allocating a fund for investment.
- Calculate & Plan your Premiums A premium calculator will help you analyse the exact requirement of a saving plan and the premium amount you need to pay for the scheme. This is an extremely useful tool that comes in handy to determine your outflow and inflow of funds.
Why Choose us
insurejoy.com Helps You Choose the Best Investment Plan
Choosing The Best Investment Plan Is Now Easy And Quick With Your Very Own Financial Planning Advisor insurejoy.com
With a wide range of life insurers operating in the market with an overwhelming array of investment plans, narrowing down to the best financial product becomes a difficult task!
insurejoy.com aims to bridge this gap and guides the investors through the complexities of buying the most suitable investment plan for themselves and their families!
Here’s how insurejoy.com helps you to choose the best investment plan for yourself:
Provides Quick Decisions
Our online portal strives to guide investors through every step from comparing costs, features, coverage, to benefits which enables users to have a 360° view of the various products available in the market. insurejoy.com helps users to know their options at just a glance.
24*7 Service
You can compare online investment plans on our portal from the comfort of your home or office. Our insurance experts are always available to guide you and resolve your queries about product features, application procedures, or any other concerns you may have.
Zero Commission Charges
insurejoy.com is an online portal and does not involve the services of an intermediary, thereby enabling customers to buy the product directly from the site. Since the companies don’t have to pay commission charges this renders a positive impact on the pricing. This allows the company to provide low-premium offers and the customers get to enjoy the benefits of the plan.
User-Friendly Portal
We have taken significant steps to provide a user-friendly and seamless experience keeping your requirements in mind. The quotation forms precisely ask the necessary questions based on the profile of the customer.
When it comes to saving for your dream house, your child’s higher education or enjoying a stress-free life after retirement, insurejoy.com is your perfect companion that will assist you in meeting important milestones in life!
Buying Guide
How to Buy Investment Plan at insurejoy.com!
Purchasing an investment plan online is the most logical thing to do, as it saves you a lot of paperwork and running around.
The process is very simple just switch on your computer, log in to insurejoy.com, compare investment plans and buy the best investment plan that best suits you.
Here are few essential steps to follow:
- Visit www.insurejoy.com
- Go to the investments page and enter some basic information such as date of birth, income etc.
- Enter the policy term you prefer.
- Enter the investment amount.
- Choose the riders benefit (additional benefits) and click on search.
- You will get a list of all the suitable plans as per your preferences.
- Read through each plan carefully, especially the benefits, returns and terms and conditions.
- Run a background check of the plan provider company.
- Now go to the investment plan comparison page where the best plans are compared. Search for the best plans based on your preference with high returns, regular income benefit, rate of interest, or risk of a plan.
- Once you decide to purchase a plan, you will be asked to enter in your details such as name, email id, address and phone number.
- You will now receive a list of formalities by the insurance provider company that has to be completed to purchase their investment plan.
- The following document copies are needed to upload to buy the plan online:
- Address Proof
- Photo Id Proof
- PAN Card Number
- Aadhar Card
- Bank Details
- Once you have completed all the formalities and submitted the required details, you will be sent the registration link for a new investment account. Now you can set up your investment account and pay the premium through Credit Card, Debit Card & Net Banking.
insurejoy.com online portal will make your investment purchase experience easy and stress-free. We guide you through all the hard parts from comparing to coming up with the best plan. All this is achieved through your No. 1 policy comparison engine insurejoy.com!
Documents REQUIRED
To Buy Investment Plan
While purchasing investment plans certain documents are required to submit. The following documents to be submitted are discussed below.
Document Needed for Identity Proof
- Passport size photographs
- Copy of Voter’s ID
- Copy of Driving Licence
- Copy of Aadhaar Card
- Any Personal Identity Proof with photograph attached to the ID: Aadhaar, Passport, PAN, Voter’s ID, Driving Licence
Any One of these Document Needed As Address Proof
- Any recent utility bills like electricity bills, telephone bills, post-paid mobile bills, water bills, gas bills can be provided
- Voters Id
- Aadhar card
- Bank account Statement or Post office Savings account statement
- Any document issued by the Central Government of India with the applicant's address
- Accommodation allotment letter provided by an employer which is in turn issued by State or Central Government departments.
Documents for Income Proof
- Latest salary slip
- Recent Bank statement
- Form 16 for salaried individual
- Form 26 AS for self-employed individuals
- KYC related documents have to be submitted
- Recent Income tax returns
- CA balance and profit loss account
Any one of The Documents for Age Proof
- Birth Certificate
- Pan card
- Aadhar
- Passport
Modes of Submitting the Documents
The mode of submitting these documents is quite easy through an online portal.
- You can WhatsApp the documents to the insurejoy.com team and they will upload the documents to the required insurance portal.
- You can upload the documents directly by logging in to the insurance portal
- You can also opt to scan the documents and send them via e-mail provided by the insurance company
- You can opt for the offline mode by directly visiting your nearest insurance branch and submit the documents directly in the office or you can send the documents hard copy to the insurance office through a courier
Frequently Asked Questions
There is no age limit to start investing the earlier you start the better it would be. You can start the habit of investing right from your childhood by saving your pocket money and investing in an RD, FD, Sukanya Samriddhi Yojana, etc.
Your monthly earnings have to be divided into three parts wherein 30% should be allotted for loan payment, 30 % of the money should be used for investment and the rest 40% for expenses.
If you are starting to invest in your 30s then you should allot at least 18 times your annual income.
There are ways to double the money in a short period by investing in stocks and mutual funds but they are a highly volatile market you can either gain a whooping profit or end up losing a huge amount. If you want to opt for the safe way then invest your money in long term plans to gain double benefits.
Certain plans have a minimal risk such as Fixed Deposit, Savings account, PPF, Gold, Senior Citizen Saving Scheme, etc that will provide guaranteed returns with low risk with a long term investment plan.