Top 6 investment options for women in India
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ET Online
Synopsis
An increasing number of women in India are entering the workforce and seeking financial autonomy. They have various investment options, including PPF, mutual funds, NPS, fixed deposits, NSC, and Mahila Samman Savings Certificate, to achieve their financial goals and secure their future.
By ET Online
In India, an increasing number of women are entering the workforce and opting for financial autonomy. While they are motivated by aspirations for successful careers, they must recognize that financial security is as vital as independence. Prioritizing investments is essential as it provides the means to achieve various goals such as marriage, funding children's education, purchasing a home, and more.
Also read: Why the Public Provident Fund is a safe option to save tax; 5 things to know
Under section 80C of the Income-tax Act, 1961, investments made during each financial year are eligible for a deduction of up to Rs 1.5 lakh. Tax exemption also applies to interest generated annually. Thirdly, you receive tax-free income when you remove the accumulated corpus upon maturity because it is likewise free from taxes.
Also read: NPS investment can save you tax on income up to Rs 9.5 lakh under old, new tax regime: Here's how
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Here are some of the top investment options for women in India.- PPF or Public Provident Fund
Under section 80C of the Income-tax Act, 1961, investments made during each financial year are eligible for a deduction of up to Rs 1.5 lakh. Tax exemption also applies to interest generated annually. Thirdly, you receive tax-free income when you remove the accumulated corpus upon maturity because it is likewise free from taxes.
Invest and Earn on ET Money - Get up to 9.5% p.a. returns
Interest at 7.1 percent (for the January-March 2024 quarter) per year will be paid on the lowest balance at the credit of an account between the closing of the fifth day and the end of the month. At the end of each year, interest is credited to the account. Note that interest is credited at the end of the year, regardless of whether the account office changes owing to a transfer of the account during the year.- Mutual funds via SIP
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- National Pension System (NPS)
Also read: NPS investment can save you tax on income up to Rs 9.5 lakh under old, new tax regime: Here's how
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- Fixed Deposit (FDs)
- National Savings Certificate (NSC)
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Also read: Was National Savings Certificate interest rate hiked for January- March 2024 quarter?- Mahila Samman Savings Certificate
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