We will discuss how to double your money in 5 years by 4 smarter and practical ways are mentioned in this blog. Investors have number of choice to double their money over time. Doubling your money requires balancing risk and time which is achieved through better investment in discipline manner. There are 4 Smarter and Practical ways by which you can double your money. Public Provident Fund, National Savings Certificate, Kisan Vikas Patra and Real Estate
1. Public Provident Fund (PPF)
Public Provident Fund can also double your in 5 years as it is a long term saving method which is initiated by Government of India, In this interest is calculated compound at the rate of interest is 7.1% annually. Investors are gets tax benefits under Income Tax Act Section 80C. Investors get login period of 15 year with partial withdrawal of 5 years. This investment is safe and secure for long term investors.
2. National Saving Certificate (NSC)
National Saving Certificate is Government backed, 5 year fixed income savings scheme available at post office. It gives compound interest 7.7% at annually. It is good for guaranteed returns with no maximum investment limit. Investors can get tax benefits upto 1.5 lakhs under Section 80C. It offers very low risk investment for investors due to Government backed as an individual can grow their capital securely.
3. Kisan Vikas Patra (KVP)
Kisan Vikas Patra assure to double your money in 9.5 years (115 months) with fixed interest rate full stop it is idol for people seeking a asured return at a asured time.
• Available at selected post offices
• It promotes long term, fixed, safe return allowing money to grow without risk.
• Interest is compounded 7.5% per annum.
• Investors can invest with minimum of ₹1000 with no maximum limits.
• 18+ individual are eligible for this investment.
• KVP certificate can be used for loans.
• This certificate can be transferred between any of the post offices.
4. Real Estate
Real state is a strong wealth building and double your money in 5 years. High initial investment long term appreciation rental income all helps double your capital. It gives long term capital growth and generate passive income through rental properties. It serves as economic sector for purchasing, selling, renting and development. It includes developers, agents, brokers and investors. It can be categorised under Commercial (Offices, Shops) Residential (Homes, Apartments) and Raw land. Location is the key factor for Real Estate. Real Estate Regulatory Authority requires developers to upload and update Quarterly reports.