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Tips to become rich! This Post Office scheme yields more than many bank FDs; gives tax exemption too Almost everybody wants to double their money fast.
People always try to identify which investment can double their money as early as possible. There are several schemes where your money can be doubled in a particular period.
Hemant Rustagi, CEO, Wiseinvest Advisors told Zee Business Online, ''Doubling money requires patience, one needs to look out for the suitable option or investment, where he can remain invested for a particular time.
The power of compounding interest and patience together can double your money. However, the instrument that works for your friend might not work for you as the returns are subjected to market, demand and supply, government laws, inflation, reforms, etc.
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The rule says that dividing 72 by expected annual return will give you a time when your money will get double. Here are some best 5 ways to double your money fast. Stock Market Investments made in the stock market have always given a high rate of returns to people.
The annual rate of return that the stock market has given in the last decade has been 15 per cent per annum. Investing in large cap or reputed sound companies can increase robot for binary options ab chances of doubling the money in a time period of 5 to 7 years.
Though mutual funds come with risk as the fund managers invest pooled money in different companies or sectors.
But, the rate of return in MFs is higher compared to other investment instruments. The long term mutual funds offer 12 per cent to 15 per per annum as the rate of return on an average.
Hence doubling money through mutual funds will take approximately 6 to 8 years, subject to market risk and volatility'' added Rustagi. It is one of the safest options for investment if you don't have large investment appetite. These certificates have a fixed tenure of 5 or 10 years, along with a fixed rate of interest.
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For NSCs with a 5-year tenure, the rate of interest offered is 8 per cent per annum. Invested in NSC can double your money in 9 years.
Non-banking financial companies NBFCs and Corporates offer higher interest rates for non-convertible debentures and corporate deposits, as against fixed deposits of banks. It will take around 7 to 9 years for the money to get double in this scheme.
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