Thinking of switching to the new tax regime? It's a good move, but smart investments are key. Let's explore five fantastic savings instruments to maximize
your money, from PPF to ELSS!
PPF: A Safe Bet
Public Provident Fund (PPF) is a fantastic option. It’s a long-term investment, providing tax benefits, and a steady return, making it popular among Indians. A PPF account helps you save for the future while also getting tax benefits under the new tax regime. It's a staple in many Indian households for good reason.
Health Insurance's Value
Health insurance is crucial. It not only protects you from unexpected medical expenses but also offers tax benefits. Think of it as a safety net that provides peace of mind. In India, where healthcare costs can be significant, health insurance is more vital than ever, making it a smart financial move.
Term Insurance Protection
Consider term insurance for financial security for your family. It provides a lump sum payment in case of the policyholder’s unfortunate demise. It’s a responsible choice, offering peace of mind knowing your loved ones are protected. It's an important step to secure your family's future, especially in uncertain times.
ELSS: Equity Advantage
Equity-Linked Saving Schemes (ELSS) offer high growth potential. These investments are linked to the stock market, which can yield impressive returns. For those with a higher risk appetite, ELSS is a good option to consider when balancing risk and returns. It can be a great way to beat inflation and build wealth.
NPS for Retirement
The National Pension System (NPS) is a fantastic tool for retirement planning. It helps you save systematically for your golden years. With tax benefits, it helps build a retirement corpus. It's a great choice for a secure future, as it helps make the golden years a comfortable and financially independent phase.
