How to Grow Your Wealth in India in 2020?

Keeping funds parked in a savings account is not as lucrative as the interest offered by financial institutions is considerably low. Therefore, seeking investment options that are profitable and assure high returns is an absolute necessity.

Individuals looking for beneficial investment options in the financial year 2020 can get the most by investing in fixed deposits, Public Provident Fund, Employee Provident Fund, mutual fund, etc. 

Fixed deposits are a beneficial option as they provide both higher and assured returns. Senior citizens willing to invest in fixed deposits can acquire a higher rate of interest. Easy deposit options with debit cards, loans against FD, easy to liquidate are a few key features of FDs. Those opting for NRI deposit can also avail of such benefits along with additional exclusive benefits. 

Investors looking for higher returns can invest in mutual funds. However, it is noteworthy that these are subjected to market risk and the individual may not receive assured returns. One may encounter profit or less depending on the market scenario.

Therefore, fixed deposits and other such alternatives are preferred and accepted as a more risk-free alternative of investment.