My present CTC is 3 lakhs per annum. What could be the best savings scheme for me?

I earn 3 lakh per annum. and i wanted to invest it wisely to get a better return in minimum possible time. please advice me both the ways.. that is , with or with out tax benefits.

3 Replies to “My present CTC is 3 lakhs per annum. What could be the best savings scheme for me?”

  1. Out of the following investments:-

    2.Term deposit for a period of 5 years or more

    3.Payment in respect of non-commutable Deffered annuity plan


    5.15yrs PPF

    6.contribution towards approved superannuation fund.

    7.Subscription to National Savings Certificate VIII issue.

    8.contribution for participating in the ULIP of UTI

    9.contribution for participating in the ULIP of LIC mutual fund

    10.Payment for notified annuity plan of LIC or any other insurer.

    11.Subscription towards notified units of Mutual Fund or UTI

    12.contribution to notified pension fund set up by Mutual fund or UTI (i.e retirement benefit pension fund of UTI)

    13.Any sum paid including accrued interest as subscription to home loan account scheme of the National Housing Bank or contribution to any notified pension fund set uo by the national housing Bank.

    14.Any sum paid as subscription to any scheme of a public sector company engaged in providing long term finance for purchase/construction of residential house in housing board constituted in India for the purpose of planning, development or improvement of cities/towns.

    i suggest you to diversify your investment into 15 year PPF and Unit Linked Insurance Plans.
    With this, you will have long term investment as well as insurance coverage. ALL THE BEST.

  2. First save tax fully under 80C. ( 1 lakh ) For this ELSS scheme is ideal because it has the least lock in period ( only 3 years ) and likely to give good returns. Take an individual mediclaim policy for self & family and get deduction under 80D upto Rs 35000. Take the policy even if you have a group cover in your office. Invest in mutual funds & direct equity for long term . Avoid investing in Insurance schemes. For life insurance – go for PURE TERM COVER ONLY.

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