Not only the central and state governments, many private companies also give Diwali bonus to their employees and officers. If you are also going to get a bonus on Diwali, then instead of spending it like this, investing and earning money will prove to be a better option. Let us know where you should invest it.
New Delhi. Along with government employees, employees of many private companies also get annual bonus on Diwali. This amount of Rs 50,000 or Rs 1,00,000 you get as a bonus may seem small to you. You can simply use it for shopping, buying some household items or spending on a party by getting lured by the Festival Offers. However, if you make the right plan and invest it, then in some time this small amount can earn you big money.
At present, there are many options in the investment market from Bank Fixed Deposit to Sovereign Gold Bond (SGB), Physical Gold, Post Office Term Deposit and Mutual Funds (MFs). There are many options available in FD also. These include Bank FD, Post Office FD (Po FD) and Company FD. It would be better to compare the interest rates (FD Rates) before investing in these. Let us know how much benefit can be obtained in which investment options.
SBI FD Interest Rates
- State Bank of India provides investment facility to common customers in FD schemes ranging from 7 days to 10 years.
- On these, customers get interest from 2.9 percent to 5.4 percent. These rates are applicable from 8 January 2021.
- Interest is provided at the rate of 0.50 per cent higher than normal on fixed deposits for senior citizens.
HDFC Bank Rates
- HDFC Bank also provides investment facility to common customers in FD schemes from 7 days to 10 years.
- This private sector bank gives interest from 2.50 percent to 5.50 percent to customers on FD.
- For senior citizens, fixed deposits earn interest in the range of 3 per cent to 6.25 per cent.
ICICI Bank Rates
- ICICI Bank offers investment facility in FD schemes from 7 days to 10 years.
- The bank pays interest at the rate of 2.5 percent to 5.50 percent to its customers.
Interest on PO Fixed Deposit
- Post office term deposit schemes are similar to bank fixed deposits.
- Post office term deposit schemes are for a tenure of 1 to 5 years.
- In these, interest is available at the rate of 5.5 percent on investment of 1-3 years.
- At the same time, 6.7% interest is offered on 5-year term deposits.
Investing in Gold, SGB and MFs
Apart from fixed deposits, you can also invest the Diwali bonus amount in Mutual Funds or Systematic Investment Plans (SIPs). Investing through mutual funds and SIPs gives good returns at low risk. Not only this, you can also buy gold. Anyway, buying gold on Dhanteras and Diwali (Diwali 2021) is considered the best in India.
- Sovereign Gold Bonds 2021-22 is currently open for subscription.
- It will be closed on 29 October 2021. You have until tomorrow.
- In SGB, you have to invest for a long period of 8 years.
- You can invest a minimum of 1 gram and a maximum of 4 kg of gold in SGB.
- Trusts and their similar entities can invest up to a maximum of 20 kg of gold.
- This investment limit has been set for one financial year.
- On this, investors get a fixed rate of 2.50 per cent.
