Fixed Deposit (FD) is one of the safest ways to invest. Nowadays, Fixed Deposit (FD) is offered in almost all banks. If we talk about it, all the banks offer FD deposits with tenures ranging from 7 days to 10 years.
However, your returns on FD are a bit slower than the stock market and mutual funds. To double your money in Fixed Deposit (FD), you may have to invest for 5 years or more.
In Fixed Deposit, the interest rate is different for each tenure. For example, if you are investing Rs 1 lakh, then it will take you more than 10 years to double the money at 7% interest. However, you can also invest in it on a monthly installment basis.
4. Invest in real estate
The real estate market is growing very fast these days. Real estate means house property, or land etc. Real estate is still considered the best and guaranteed investment. This is also a traditional way of investment. Nowadays a lot of people are doubling their money by investing in real estate.
Investing in property is a big expense and responsibility, so it is not possible viber data for everyone, but if you have no shortage of money then you can definitely adopt this method.
In this, you will benefit from the increase in property prices. The property price can double in a few years. On the other hand, if you give land or house on rent, then it can also generate regular income for you.
5. Double your money by investing in PPF
PPF is also a good way to double your money. If you have some money and want to earn money from it, then you can choose PPF. Generally, there are two ways to double your money in PPF.
You can double your money in PPF depending on the time and interest rate. As- Based on time, the amount invested in PPF doubles in 15 years. So, if you invest in PPF for at least 15 years, your money will double.
The interest rate in PPF is decided every quarter based on the interest rate. If the interest rate is more than 12%, then your money can double in just 10 years.
Apart from these two methods, you can also double your money by increasing your PPF investment. For this, you can also open a PPF account in the name of your partner. In this way, your total investment limit will be Rs 3 lakh.