Saving is a good habit, for people of all ages. The habit can help you accumulate a sizable sum in the later years of life if the habit is developed in the initial years of life. Just to give you a gist, an FD, even if it offers the lowest interest rate in the whole market, will yield a maturity value approximately double the invested principal. Given that, if you invest a very small sum such as Rs 25 in a fixed deposit scheme during the early days of your life, by the time you decide to get married you’ll have around Rs 50k in hand. On the same note, check out the best investment options for people who are starting early.

SIP or MIS: Systematic Investment Plan or Monthly Investment Scheme, both are good options for people who don’t wish to commit to schemes requiring a lumpsum deposit. The investor can save a small portion of their salary, as per their budget allowance, in a SIP or MIS and gain the benefits.



Fixed Deposit: Havings shared the kind of returns you can acquire from FD, it can be a conducive solution for fresh, out-of-the-college graduates getting started with their career. FD gives you a choice, the required flexibility in terms of budget and tenor: you don’t have to invest a hefty sum, you can start small and increase your budget with time.

Bottom line: It’s not mandatory to use the suggested tools for the purpose of saving money, you can shop around and explore your options before finally opting for a particular scheme.