Top Investment Options for Women in India 2023

Women are breaking barriers with their wit and passion. Today’s women are convinced about going all out there and proving themselves as equal in a male-dominated society. By making intelligent choices for themselves, they are also amplifying their financial freedom and the ability to take care of themselves without any external helping hand.

There are many investment options that foster these ambitions further. That is why in this article, we will discuss them very carefully so you can make the right investment plan for yourself in 2023. If you are ready, so are we!

1. Public Provident Fund

This is a government-backed fund that fosters women’s investments in 2023. If you are not looking to risk your hard-earned finances and are looking for a decent investment, this is all you need. The best reasons to choose PPF are-

  • Generally, all banks and financial institutions support PPF schemes for women. So, it will be easy for you to access your account and rely on this type of investment option.
  • This is not just an investment option. It is also a great savings plan that can help you save sufficient amounts of money for a better tomorrow.
  • This investment is risk-free. So, if you do not have a good risk tolerance yet, you can use PPF without any worries.
  • As of now, the rate of interest that PPF offers is 7.1% per annum.
  • It also comes with a 15-year lock-in period withdrawal facility. This means you can withdraw money in a more disciplined and efficient manner than possible anywhere else.
  • You can start by making a minimum yearly deposit of Rs. 500.
  • You can make a maximum yearly deposit that goes up to Rs. 1,50,000. So, you can choose accordingly

2. Fixed Deposits

Fixed deposits are one of the oldest and most reliable forms of investment options for everyone. But now, it has become even more encouraging toward women. The interest rates are high, and the minimum deposit amount starts from as low as Rs. 1,000. The best features of this type of investment option are-

  • It offers an investment tenure of 7 to 10 years.
  • The interest compound frequency is very flexible. The options are divided into monthly, quarterly, and yearly.
  • Although partial withdrawals are available, you may have to pay the penalty. This means it helps you to make more disciplined savings and investments without feeling the urge to withdraw money at your disposal. This helps improve your financial status in the long run as more wealth is accumulated over time.
  • You can also opt for premature closure. However, this, too, comes with a penalty to foster more disciplined investments.

3. Gold

Pretty much like a fixed deposit investment option, even Gold is fairly old and reliable. Although there are market fluctuations, you can expect a sufficient amount of stable return from it. Even during the pandemic and inflation years when the market prices are very high, investing in Gold serves as a good investment opportunity to some extent. So, you can always choose to leverage it.

4. National Pension Scheme

If you are looking for a government-backed scheme that is reliable and efficient, the National Pension Scheme will not disappoint you. Any woman investor who wants to make a decent amount of investment without incurring a high risk in the market can opt for this scheme. This type of scheme can be very useful for them as a financial corpus after their retirement. Here are its features-

  • You can make one deposit per year.
  • You can begin with as low as Rs. 500 and make a yearly deposit of Rs. 6,000.
  • The first tier of NPS offers tax benefits, while the second tier does not. So, you need to choose this scheme accordingly.
  • Anybody between the ages of 18 to 65 can opt for this type of scheme without any hindrance.

Winding Up!

The top investment options for women in India in 2023 are splendid. They are diverse, efficient, and result-oriented too. But you need to make sure you choose the right one that fits your needs, preferences, and budget properly. Do not hesitate when making this decision. Remember, it can make or break your financial future.

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