I want to invest around 30k per year for 3 years. in Tax Saving Mutual Fund.Please suggest some SAFE PLAN, which will atleast return my invested money. It can be more than 1 plan.
(NB: SAFE)
1 Answers
First of all, tax saving mutual fund won't be available from next year onward after Direct Tax Code comes into picture. So you can only invest in this year (FY 2011-12).
Secondly, tax saving mutual funds are equity based and contains risk. There is no guaranteed return or even some return guaranteed (your investment may be even negative after 3 years lock-in).
If you want safety, you can invest in NSC, PPF or 5 years fixed deposits.
You can also read answers to similar questions below:
http://www.socialfinance.in/questions/7/tax-saving
http://www.socialfinance.in/questions/45/investment-advise
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