7 Best Places to put Your Savings and Increase Your Wealth | AU Small Finance Bank
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7 Best Places To Invest Your Savings | AU Small Finance Bank

Make Your Money Work for You: 7 Best Places to Invest Your Savings

    Making money work for you through investments is a skill- one that requires time and patience to hone and develop. But to become a successful investor, a common deterrent is selecting the right investment. 

    With the ever-increasing number of investment avenues, deciding where to invest your savings is easier said than done. If you relate to this dilemma, here are 7 places where you can park your savings to let money work for you- 

     

    Best Places to Put Your Savings

    1. High Interest Rate Savings Account

    High-Interest Savings Account can be an ideal option for people who’d like to grow their savings but with the flexibility to access the funds as required. For instance, AU Small Finance Bank, one of the best Small Finance Banks (SFBs) in India, offers various types of Savings Accounts with high interest rates. The bank also offers a Monthly Interest Payout option when you open a Savings Account

     

    2. Certificate of Deposit (CD)

    The RBI introduced Certificate of Deposit (CD) in India in 1989. Since its introduction, it has been a popular investment option among retail investors to generate one of the highest interest rates

    Similar to an FD, CDs are a fixed-income financial instrument. The CD aims to denote in writing that you have deposited money for a fixed term, and the bank is liable to pay you interest based on the amount and deposit term. The minimum investment in CDs is INR 5 lakhs, with maturity ranging from 7 days to 1 year. As for the interest rate, you can find fixed-rate and floating-rate CDs. 

     

    3. Money Market Funds

    Money market funds are a type of low-risk mutual fund. They are short-term debt funds that invest in government securities, Certificate of Deposits (CDs), & Commercial Paper (CP). You can invest in money market funds through Asset Management Companies (AMCs) online and offline. 

     

    4. Invest in Fixed Deposit & Recurring Deposits

    Term Deposits like Fixed Deposits (FDs) and Recurring Deposits (RDs) are traditionally popular investment options in India. With FDs, you invest a lump sum amount for a fixed tenure at a fixed interest rate. With RDs, you can invest a smaller amount at regular intervals for a fixed tenure at a fixed interest rate. 

    AU Small Finance Bank also offers one of the highest interest rates on investments like FDs and RDs, making it a preferred bank for Term Deposits. 

     

    5. Treasury Bills

    If you’re looking for where to safely invest money, you can also consider investing in treasury bills. These are government-issued securities with a fixed maturity and minimal risk.

     

    6. National Pension System

    Where to put my money to grow for a financially secure retirement? National Pension System (NPS) is one of the best choices. It is a voluntary retirement savings scheme to help people invest toward their retirement throughout their working lives.

    As AU Small Finance Bank is appointed as a POP (Point of Presence) by the PFRDA (Pension Fund Regulatory and Development Authority) to sell and market NPS, you can register for NPS online from the comforts of your home. 

     

    7. Mutual Fund Investment:

    Mutual Funds are market-linked financial instruments. To start investing in this asset, a mutual fund company pools money from different investors sharing a common investment objective and invests the money in securities such as bonds, stocks, equities, and short-term debt funds. The returns generated from this collective investment is distributed proportionately amongst the investors after the deduction of certain expenses.

     

    Key Takeaways:

    • Apart from the investment options listed above, you can explore other options like buying a property and potentially renting it, investing in gold, buying a life insurance policy, stocks, etc
    • Being a successful investor has a lot to do about how well you understand the products you choose for your investment
    • So, before you begin investing, do adequate research and focus on aspects such as maturity, expected returns, and prospective risks
     

    Start your investment journey with us.

    Do you have surplus money to invest? You can begin your investment journey with AU Small Finance Bank through our various investment offerings, including High-Interest Rate Savings Accounts, Term Deposit Accounts, Insurance, and Investment. 

     

    FAQs

    1. Where Can I Put My Money to Earn the Most Interest?

    Options like High-Interest Rate Savings Accounts and Term Deposits are commonly preferred by people to generate high interest on their savings. 

     

    2. Which Bank Gives higher Interest on Savings Account?

    AU Small Finance Bank, the Largest Small Finance Bank in India, offers higher interest rates on Savings Accounts. 

     

    3. How Can I Earn Monthly Interest?

    A Savings Account with a Monthly Interest Payout is a hassle-free method to earn monthly interest. 

     

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