The aim of all our professional endeavours is lead a good life and have a prosperous retirement. And while government employees are bound to be secured by a pension, those in the private sector usually choose a provident fund or other ways to accumulate savings over the years.
Here are some great investment avenues that you can explore if you are looking to save for retirement. These Small Saving Schemes in India that you should know not only are these great monthly income schemes that help you save for the future, but they can help you avoid tax deduction under section 80C as well.

  1. Equity or Mutual Funds: While mutual fund investments are subject to market fluctuations, they remain a great option to grow your money. Regularly invest small amounts of money in mutual funds from an early age and reap the benefits of compounding for your retirement fund. The stock market is also a good place to invest your money. But avoid putting all your savings in the same instrument.

  1. Balanced Funds: One of the best investment plan around, balanced funds are equity oriented hybrid funds, which tend to be safer than stocks or equity mutual funds. With up to 35% investment in government and corporate bonds, they tend to be much safer than pure- equity funds and they are also not taxed like long term capital gains and dividends.
  1. Public Provident Fund: One of the safest investment options, the public provident fund is free from tax both in the deposition and the maturity stages. You can invest as much as Rs. 1 lakh in PPF and after a lock in period of 15 years, get fantastic returns. Here are 6 easy steps on how to withdraw PF Amount Online?
If you are investing in EPF and want to know your EPF balance fund then you may read about these 3 Simple Ways to Know your EPF Balance.

  1. Tax Free Bonds: As long-term fixed income products that come with a lock in of 10 to 15 years, tax free bonds are free from any kind of tax, however, if they are sold on stock exchange where they are traded, you may have to pay capital gains tax. Tax free bonds can be bought from banks and this is the best options for first time buyers.


  1. Home Loans: Tax exemptions for home loan are a popular way of saving on tax. Not only is real estate a great investment tool – property usually appreciates in value, but you can also save tax thanks to the home loan you use to buy the property. You may also get a home loan to buy house under PMAY. Here is a Step-by-step Process to Apply for a Home under the PMAY Scheme.