Diwali Bonus: What to do with Diwali bonus, invest in FD, buy gold or invest in mutual funds – know, where will be the most benefit?

There is a trend of getting bonus from government to private jobs on Diwali. The job seekers get a bonus of 50 thousand to one lakh rupees or more on this occasion. This amount may seem small in terms of investment, but if invested with careful planning, then it can become a very good fund in the long term. You can put this money in bank FD, post office deposit or FD of companies. However, before putting money in FD, one should compare the interest rates of banks and post offices.

Bank and Post Office FDs

At present, common depositors in SBI are getting a maximum interest of 5.4 percent on FD. Senior citizens are getting half a percent more interest than this. The maximum interest rate in HDFC Bank is 5.50 percent. For senior citizens, this interest rate is maximum 6.25 percent. At the same time, the maximum interest rate on FD in ICICI Bank is 5.50 percent. Interest rates on post office FDs range from 5.5 to 6.7 percent.

Investing in Gold and Gold Bonds

Apart from FDs, Diwali bonus can also be put to good use for buying gold. You can buy hallmarking gold jewelry, coins or bars from good stores. Gold rates have come down in the last three years, so this is the right time to buy gold.

Another good way to invest in gold is by buying Sovereign Gold Bonds. Its series is issued by the government from time to time. If you can hold the investment in gold for a long time i.e. up to eight years, then investing in gold bonds is a good way to go. One, there is a sovereign guarantee on this. Secondly, you also get an interest of 2.5 percent annually on this. You can invest in it by buying at least one gram of gold.

Senior Citizen FD: These banks are getting up to 7 percent interest on Senior Citizen’s FD, know where the rate is

Benefits of investing in mutual funds

Apart from investing in gold and gold bonds, you can start investing in mutual funds. Nowadays, due to digital platforms and apps, investing in them is easy or easy. A large number of investors in the country are taking advantage of the height of the stock market by investing in mutual funds through SIP. However, one can also invest in debt funds and fixed income instruments through mutual funds. Therefore, instead of spending the bonus received in Diwali on clothes and travel, use it in preparing to meet future financial needs. This is the perfect time for new investments.