You may consider investing in sovereign gold bonds, as these bonds score over gold ETFs on two counts
How sovereign gold bonds work
You can buy sovereign gold bonds from banks and post offices after completing the know-your-customer (KYC) documentation. The value of one bond will represent the price of gold per gram. You have to invest up to a minimum value of two gram of gold. The maximum you can invest in a financial year is up to a value of 500 grams. These bonds come with a tenure of eight years and an exit option from the 5th year. You will earn an interest of 2.75% a year, which will be paid half-yearly. These bonds can be converted to demat form. They will be listed on exchanges, which means you could exit them in the secondary market if you require the money before maturity. The redemption will be done on the prevailing price at the market. Interest will be paid on the original value of investment. You can use these bonds to take a loan.
Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015
1. BNP Paribas Long Term Equity Fund
2. Axis Tax Saver Fund
3. IDFC Tax Advantage (ELSS) Fund
4. ICICI Prudential Long Term Equity Fund
5. Religare Tax Plan
6. Franklin India TaxShield
7. DSP BlackRock Tax Saver Fund
8. Birla Sun Life Tax Relief 96
9. Reliance Tax Saver (ELSS) Fund
10. HDFC TaxSaver
Invest Rs 1,50,000 and Save Tax under Section 80C. Get Good Returns by Investing in ELSS Mutual Funds Online
Invest in Tax Saver Mutual Funds Online
For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call
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