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I am open to investing this sum of 9 lacs either as a lumpsum investment or in different parts. It should be tax free. I dont want to invest in the MIS scheme as i already have made an investment in it? My age is 38 yrs. I recently got divorced. Kindly advise me on the same.
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1 Answer

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You can invest in equity mutual funds with dividend option. The dividend is tax-free. But you must understand the risk factors involved in mutual funds and other things.

Another option is investing the amount in bank FD with monthly interest option. But the interest earned will be taxable.

If you don't need monthly interest, it's better to invest in Gold ETF and PPF for long term and let it grow.

Hope it will help you.
answered by (48.8k points)

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