Investing in the right place is a good decision as it will bring you more returns than investing in the wrong place. You may think that what is the best place to invest?
Well, the answer is not so easy. But, if you are planning to invest then the first thing that comes in your mind is the bank.
There are some banks which have their own money market schemes and other banks have their own fixed deposit schemes. But, before deciding where to invest your hard-earned money, you need to consider certain factors like interest rate, return on investment, liquidity, safety and many more.
So, let’s take a look at some of the best places to invest your money.
1. Fixed Deposits
Fixed deposits are one of the safest ways to invest your money. They are also known as term deposits. These are the fixed time deposits and they are offered by all the banks.
You can invest as much as you want in these schemes. The only thing that you need to do is that you should deposit your money for a fixed period of time and the bank will give you the interest rate on the same.
If you have invested in the bank’s fixed deposit scheme then it will be safe and secure. It will give you an interest rate of 7% per annum on the money which you have deposited.
2. Stock Market
The stock market is the second place to invest your money. It is not only a good place to invest but also a good place to earn money.
There are different types of shares available in the stock market and you can choose any type according to your requirement. But, before investing, you need to know about the different types of shares and what their benefits are.
Here are some of the major types of shares that are available in the stock market.
Nifty – It is the most popular index in the stock market. It is a benchmark index for all the other indices. It has 50 stocks in it.
S&P BSE Sensex – It is a stock market index for the Indian economy. It consists of 30 stocks.
Banking – This is the oldest type of share and it consists of 8 stocks.
Mid-cap – Mid-cap is the most common type of share in the stock market. It consists of 40 stocks.
Small Cap – This is the latest type of share in the stock market. It consists of 100 stocks.
Conclusion:
You should invest in the right place as it will bring you more returns than investing in the wrong place. So, before investing your money in any place, you need to consider certain factors like safety, return on investment, liquidity and many more.