Thinking of investing some of your money so that once you are not able to work you still have a good amount of money left and you can spend your retirement by visiting new places and enjoying your life as well. But beware as a wrong step could leave you with no money at all. Where you invest your hard earned money is not in question, but the fact is that you must know everything about the investment rules and must make a decision like a rational human being. If not seek the help of the experts. If you are unable to do this then there is a high risk of losing all your money or not getting the return that you had hoped for. You cannot invest in banks with a thorough knowledge on the share market just like you cannot play hockey by knowing the rules of football. You must remember one thing that each and every policy has different rules and regulations and you must know them before investing in one.

Post office recurring deposit calculator scheme

As of now the interest rate given by the post office is 3.5 percent. There are some criteria that you must maintain at all costs. For instance you can only invest up to Rs. 1, 00,000 for a single account and if you intend to invest in a joint account then the maximum limit is Rs. 2, 00,000. The biggest advantage of investing here is that you will get a return of Rs. 3500 at the end of the year for the single account t and Rs. 7000 for the joint account but at the same time the whole amount is tax free. If you want to invest in the PPF scheme then you will get an interest rate of 8 percent. This amount is also totally tax free and you have the flexibility to extend the tenure by an additional 5 years once the mandatory 15 years is completed. It must be noted that not all post office deposits are totally tax free apart from the exception of PPF.

Bank deposit or FD interest rates calculator

The biggest advantage of investing in banks is the fact they are totally tax debatable. At the same time the interest is calculated on a daily basis and not on a monthly basis. If you want to increase the tenure of your fixed deposit, then you must do it within the first 15 days of maturity otherwise the bank will renew it from their end once the 15 day period is over. The bank will deduct 10 percent as TDS if the interest is more than Rs. 10,000 at the end of the year. Also, the bank will deduct double the amount if you give the details of your PAN card. You can also use your bank’s debit card to withdraw money from the ATM and you could also use the ATM of other banks for free for 5 times in any given month.

Mutual funds

In order to invest in shares and mutual funds then it is mandatory to use your PAN. For a SAP system you need to invest a minimum of Rs.500. if you are making a transaction over Rs. 10,000 then you need to pay an additional charge of Rs. 150. Therefore it is safe to say that you must look into the recurring deposit calculator and FD interest rates calculator before investing money. A wrong step or a wrong decision could be catastrophic as you could lose all your money in a day and if you play well then you can double your money in no time at all.