If you have received a bonus or a lumpsum under Rs 1 lakh and plan to invest the same, here are 5 investment ideas. We have taken those instruments that are relatively safe and offer higher yields or returns. Here are 5 such investment ideas:
Bajaj Finance Fixed Deposits
The fixed deposits being offered by Bajaj Finance are attractive for their interest rates, when compared to most peers including banks. A 36-month deposits fetches an interest rate of 8.35 per cent under the cumulative scheme. Those looking for monthly income will receive a much lower interest rate of 8.05 per cent.
For those looking at 48 or 60 months deposits, the interest rate is 8.35 per cent. The deposits from Bajaj Finance are relatively safe and are AAA rated by the leading rating agencies.
Investors are advised to invest for the long-term given that interest rates in the economy are expected to fall in the coming days.
IDFC First Capital Bank
IDFC First Capital bank too has attractive deposit interest rates. The 1-year deposit fetches an interest rate of 8 per cent. If you opt for the tenure from 1 to 2 years, the interest rates are 8 per cent. IDFC First Capital Deposits are safe, as this is a commercial bank and in any case deposits of upto Rs 1 lakh are already protected by way of insurance.
Most commercial banks in the country offer a much lower interest rate. For example, State Bank of India is presently offering an interest rate of a maximum 6.5 per cent. Against this backdrop an interest rate of 8 per cent is not bad at all.
Post Office Time Deposit
You can also look at the post office time deposit. If you invest for a period of 5 years, you receive an interest rate of 7.7 per cent, which is much better than what most government banks in the country are offering.
If you are looking for a three year deposit, the interest rate is much lower at 6.9 per cent. It is hence advisable to go for the 5-year deposit.
These deposits are safe, as they are backed by the government. For those looking to invest upto Rs 1 lakh, this could be a great bet.
Shares of Coal India
If you are willing to take a slight risk, the shares of Coal India would not be a bad bet. The company tends to declare a dividend each year, which may take the yields to better than some fixed deposit interest rates of government banks in the country. For example, the dividend based on last year's dividend of Rs 13.1 per share, is near 7 per cent.
Apart from this, should the shares climb it gives investors a further chance to make more money. Coal India is a government owned company, that is into coal mining. It is a debt free cash rich company, which is another attractive reason to buy the shares.
TN Power Finance Fds
This is a government of Tamil Nadu enterprise, and hence there is unlikely to be too many worries on the safety front.
A cumulative fixed deposit yields an interest rate of 8.25 per cent on a 36, 48 and 60-month deposit. This is not bad at all considering where interest rates currently are. A great place to invest Rs 1 lakh.
If you are a senior citizen the interest rate moves higher to 8.75%. As we mentioned the deposits are safe and the interest rates are significantly higher than what banks in the country are offering. So go for them, especially by investing in the more longer tenures.