Invest here to become a millionaire

You earn money with great hard work and if you want to invest your money somewhere and you want your money to give you a good return then today you are going to tell me where to invest your money so that you get a good return.

In the midst of the Corona crisis, banks have run into catches as they get too many returns on savings and have to meet them soon. In the last few years, there has been a reduction in the interest rates of savings and fixed deposits. Due to the Corona crisis, customers have been jolted from public sector banks to private banks. After seeing the interest rate graph of the banks, now customers are getting disenchanted with fixed deposits. Now almost equal interest is being earned on short term and saving accounts. In such a situation, people are either keeping money in a savings account or are looking for another option.

First of all, tell us how much interest the bank is paying on the savings account. State Bank is currently paying 2.7 percent interest on the savings account. While paying 5 percent interest on a fixed deposit of one year. ICICI Bank is offering a 3% interest on savings account while offering a 5.6% interest on one-year fixed deposits. These figures show that the fixed deposit is not a profitable deal. That is, you have to find other ways of saving only then you can complete your goals.

If your outlook is long then after the lockdown the graph of returns in mutual funds will increase. In the long term, you can get 12 to 15% returns. But the biggest question is how to choose a good mutual fund because choosing the right companies to invest in is like choosing your life partner. There are schemes of thousands of companies in the market. How can you make the right choice for yourself? Today we will solve your problem. So, first of all, you have to decide what is your memory. How much you can invest and for how long. If you have to do it for two years, then there will be separate mutual funds for that. And if you have to invest for five to ten years, then there will be separate mutual funds for that, it is clear that the choice of the right mutual fund depends on what your period is.

If you want to invest for a short time for Mishaal, then you can choose debt or liquid funds. If you want to invest for a longer period then you can choose equity mutual fund for you. Once you have taken a long time to invest, you can decide how much risk you can take. Remember, you have to take more risk for more returns. But the return is not only important in investment, but the capital you invest in it also matters.

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