Investment is the smartest way of increasing your steady income. However, only choosing the right investment options can provide you consistent returns. Therefore, it is necessary that you invest in schemes that perfectly suit your financial goals. Depending on your goals, you can invest in either long-term investments like real estate or short-term investment schemes like fixed deposits. 

There are multiple investment schemes in the market that have their unique benefits. For example, investment in stocks and real estate can give you high returns. However, this investment involves risk due to market fluctuation and low safety. Therefore, you should select a scheme that can give you higher returns as well as safety. To select from the best option check out the best schemes to invest in India this year:

Equity Mutual Funds (Equity Linked Savings Scheme)

As India is consistently developing as an economy, ELSS are still the best investment option in India. By investing in ELSS, you can get higher returns as well as high liquidity. By investing in ELSS, you can avail the below-mentioned benefits:

Benefits

• Diversification by small investments across different companies
• High returns
• Risk reduction by diversification
• Easy liquidity
• Tax deduction of up to INR 150000 is available u/s 80C if invested for minimum 3 years
  

Fixed Deposits

Investment in fixed deposits can be called evergreen as they are not affected by any market fluctuations. FD investments are considered as the safest investments that give fixed returns. Additionally, if you invest in fixed deposits with Bajaj Finance, you can also get returns at a high interest rate. By investing a larger sum in FDs you can get higher returns. To calculate the returns on the different principal amounts you can use the FD calculator.

Gold

Referred as the oldest currency, Gold is still a golden investment in 2018. The most important advantage of investing in gold is that it is simple to invest without any limitation on the principal amount. Last year, gold prices in India showed a little fluctuation due to GST implications. However, gold prices are consolidating and increasing this year. Moreover, as gold investment provides a hedge against inflation, this investment can give you high returns as well as protection against uncertainty.

Insurance

Investing in insurance plans gives you security and financial aid during emergencies. Either you can invest in a life insurance, or you can invest in a medical insurance to avail attractive benefits. Investment in insurances is considered as a good option for individuals who are planning finances for retirement. Though the rates of return on insurance are much lower, investing in insurance is important as it gives the following benefits:

• Returns are tax-free
• Provides cover
• It is amongst the ideal saving options similar to FDs

Real Estate 

Based on the GST implementation and reforms implemented by RERA (Real Estate Regulatory Authority), the Real Estate investments seem more profitable than ever. As returns from real estate are dependent on a number of factors like locality and quality of property, you cannot accurately predict the amount of returns. However, by investing in correct properties and by taking proper financial guidance, you can enjoy high returns and additional tax benefits. Depending on the current market condition, real estate investments in housing, offices, or warehouse are going to bring more income in the near future.