How would you feel if what you invest today will become double in future? Sounds interesting. There are certain conditions in which it can be true. You have to act wisely and invest for a fixed long duration. Here are some options which can double your money in Future.
1. Stock Market- Investments done in stock market will give a high return in future. If we have a look on the annual return of the stock market of last decade it has given 15 percent per annum. If you will invest your money in reputed sound companies it will increase your chance of doubling the money in near future. But it is very essential to know about all the fundamental and technical aspects of stock market before investment. It will reduce the risk of losing money in stock market.
2. Mutual Fund- Mutual Funds are again Great Investment Option. There are so many Mutual fund schemes available in Market Investing in Mutual funds also contains risk factor as fund managers invested pooled money in different sectors or companies . The rate of return on Mutual fund depends on the period of the fund. if we talk about Long term mutual funds it offers 12 to 15 percent per annum rate of return on average. So your money can be doubled in 6 to 8 years.
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3. National Saving Certificate (NSC)- NSC are issued by Indian Postal department. If you want to do safe investment you can invest in NSC. These certificates have the fixed tenure of 5 to 10 Years. These NSC are exempted under section 80C of the Income Tax Act.1961 for up to Rs 150000 PA and you can use it to avail loans from the bank. It will get your money double in almost 9 Years.
4. Kisan Vikas Patra-(KVP) Kisan Vikas patra are again the safe investment option. Pan card is mandatory for making investment in KVP worth Rs 50000 paid in cash. Kisan vikas Patra are taxable and not covered in 80c of income tax act. It will get your Money double in near future.
5. Bank Fixed Deposits- Fixed deposits are a popular choice of investment for the most of the people. After the bank repo rate cut down by RBI several banks slashed the rate of interest offered on fixed deposits so your money will get doubled in around 8 to 9 years.
6. Gold ETFs-Investment in yellow metal will give excellent gain in future. Gold exchanges traded funds launched in 2002. It is the easy way of investment which gives annual return of 22%. Gold market is highly volatile like stock market so we can assume that what we invest today will become doubled in coming 4 to 5 years.
7.Public provident Fund- it is again one of the popular and reliable investment option provided by Government. If you want to invest in PPF a Minimum deposit of 500 per annum is required. There is lock in period of 15 years in this scheme. The rate of return is 8.75%. Maturity amount will get doubled in around 8 to 9 years.