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Investment Options for Women
Table of Content
Why Investing is Important for Women?
Most women today have careers and are financially independent. To continue to have financial freedom and express their opinions in financial decisions, they have to be empowered economically. Whether they are single or married, opting for the best investment plan for women in India is important to grow their money.
In brief, adopting investment strategies for women secures their financial future and fulfils their long-term financial goals. Women’s financial empowerment can be a reality with investment options like mutual funds, ULIPs, stocks, pension plans, etc., besides the conventional method of parking surplus funds in a savings bank account.
Best Investment Options for Women in India
Several savings schemes for women are available in the market. The following are some low-risk women’s financial security plans that offer guaranteed returns:
Public Provident Fund (PPF)
PPF is the best investment plan for women who aim to contribute a specific amount for long periods to leverage the interest-compounding benefit and create a significant corpus for their long-term financial goals. In addition, the tax benefits help reduce their overall tax liability and enhance their resources for further investment. With guaranteed returns at 7.1% p.a. for 15 years, this is one of the best women's retirement planning options.
Mutual Funds
Mutual funds are the best investment plans for women with high-risk appetites. With professional support and flexibility to choose the funds that align with long-term investment goals for women, mutual funds are the best women’s wealth-building options. With the potential to earn higher returns than conventional fixed-income options, mutual funds are best suited for women who are open to market fluctuations and wish to stay invested for a longer duration. With so many investment options in mutual funds, they can effortlessly create a diverse investment portfolio to balance the risks with rewards and eventually earn higher returns.
National Pension Scheme (NPS)
The National Pension System makes retirement savings for women seamless. It allows regular contributions to create a retirement corpus over time. The tax benefit under Section 80CCD* of the IT Act 1961 makes it a lucrative investment option for women. Flexibility and the choice to create an investment portfolio are added benefits of NPS that women can take advantage of.
Fixed Deposits (FDs)
Fixed deposits offer guaranteed returns with high liquidity. They are ideal investment options for women to meet short-term goals. It is a tailor-made alternative for women who prefer capital protection to high returns. Flexible tenure ranging from 6 months to 10 years is an added advantage. A fixed deposit can be opened in a bank or a post office.
National Savings Certificate (NSC)
The National Savings Certificate is a government-backed savings plan with a 5-year tenure. It offers guaranteed returns and the interest rates are fixed. It is one of the best investment options for women who are risk-averse and prefer conservative savings plans. It is a tax-efficient scheme as the investment made under the scheme is eligible for tax deduction up to Rs. 1.50 lakhs under Section 80C* of the IT Act 1961.
Unit Linked Insurance Plans (ULIPs)
Unit-linked Insurance Plans with both investment and insurance components can be an ideal inclusion to financial planning for women who seek financial protection for their family along with opportunities to grow their money. Women with adequate knowledge about market trends and the fund’s performance can invest in this scheme.
Life Insurance
Life insurance is a traditional investment option for the family’s financial protection. Investing in a life insurance policy gives the policyholder peace of mind that the family is financially secure even in his/her absence. It is one of the best investment options for women responsible for financially dependent family members.
Gold Investment
Gold investment is considered the best investment plan for women in India. From time immemorial gold investment has been regarded as saving for a rainy day. You can invest in jewels, gold coins, gold ETFs, sovereign gold bonds, etc. With consistent appreciation of value, it beats inflation and serves as a financial safety net.
Capital Guarantee Plans
Capital Guarantee Plans are the best investment plans for women focusing on capital protection. They ensure the return of the capital invested on maturity and provide returns based on the performance of the base assets. This plan strikes a balance between capital protection and market-linked returns. It is the best investment plan for women in India with moderate risk tolerance and who prefer to invest in assets with growth prospects.
Employees' Provident Fund (EPF)
Considered the best investment plan for women in India, the Employees’ Provident Fund is a pension plan for employees in India. It provides guaranteed returns and a regular income stream post-retirement. The government announces the fixed interest rate for the scheme annually. It is an ideal long-term investment option for women with low-risk tolerance.
Indian Government Savings Plans for Women
The Indian Government has launched various savings plans to empower women financially. Some of them are:
Sukanya Samriddhi Yojana (SSY)
This is a child education plan specially designed for girls and is the best investment plan for women to secure their children’s education plans. Parents or guardians can open this account for their girl child below 10 years old.
Benefits
The returns are higher than regular savings accounts. The present interest rate is 8.2%, which is much higher than that of other conventional savings plans.
Section 80C* of the Income Tax Act 1961 provides tax deduction benefits for the investment in the scheme.
Post Office Mahila Samman Savings Scheme
It is a fixed deposit scheme with a tenure of 2 years. This is the best investment plan for women in India for their short-term financial goals.
Benefits
The scheme is ideal for short-term goals like buying a gadget, making down payments, making minor repairs to homes, etc.
The returns are better than a regular savings plan, like a fixed deposit.
Mukhyamantri Mahila Samman Yojana
It is a scheme launched by the government in 2024 for the benefit of women. Women above 18 years receive monetary assistance of Rs. 1000/- every month. Women residing in Delhi and having a voter’s ID card issued by the National Capital are eligible for assistance under the scheme.
Lakhpati Didi
Lakhpati Didi Scheme is a government initiative to empower women associated with Self Help Groups to achieve a decent standard of living by adopting sustainable livelihood practices. SHG members with an annual family income of Rs. 1.00 lakh are eligible to be a part of the initiative. SHGs support women to take up entrepreneurship ventures by providing skill development training, financial literacy, and monetary support.
Kisan Vikas Patra (KVP)
Kisan Vikas Patra is a government-backed scheme. A one-time investment gets guaranteed returns on maturity under the scheme.
Benefits
A safe investment option with attractive interest rates.
Ideal for those with low-risk tolerance.
National Savings Certificate (NSC)
The National Savings Certificate is a safe investment option for investors of all income ranges. It encourages investing while saving and has a lock-in period of 5 years.
Benefits:
Can start with an amount as small as Rs. 1000/-
Provides better returns than a conventional investment plan. The present interest rate is 7.7% p.a.
The investment is eligible for tax deduction under Section 80C of the IT Act.
Post Office Time Deposit Scheme
It is a fixed deposit scheme offered by post offices. You can choose tenures from 1 to 5 years, depending on your goals.
Benefits
You can choose tenure between 1 to 5 years to align with your goals.
The interest rates are attractive.
The scheme provides a periodical interest payout.
Advantages of Investment for Women
The advantages of investment for women abound. They are:
Helping Families Achieve Their Goals
Setting aside funds for savings will not help achieve the financial goals set for the family. Mindful investment helps grow the savings and achieve the goals. Choosing the best investment plan for women in India to align with their financial objectives will help women deploy resources efficiently and create a corpus to accomplish long-term and short-term goals.
Financial Stability
With various investment options to suit their budgets, women can create a substantial corpus irrespective of income size and attain financial stability. They have investment options to align with both short-term and long-term goals. A pension plan can equip them for a financially independent retirement life.
Preparing for Children's Future
With various investment options for women, mothers can contribute to their children’s education planning. They can choose to invest in child education plans depending on their affordability and create a substantial corpus for the quality education of their children.
Retirement Planning
Planning for retirement is essential to be financially independent during the golden years. With several market-related options with high potential for growth and safe pension plans, women can choose to invest according to their risk appetite and create a corpus and a regular income stream for a financially independent retirement life.
Further, investing in health insurance plans gives them peace of mind that they can manage their medical expenses without disturbing their existing financial goals.
When Should Women Start Investing?
Time is the factor that decides how affordably you can plan for financial goals. Starting investment early in life enables smaller contributions to transform to substantial corpus with the power of compounding. The investments will have ample time to grow. However, ascertaining and listing their financial goals is fundamental. Creating an investment strategy to work towards this goal is the next move. At whatever age they start investing, a well-planned investment portfolio can help in building wealth.
Supporting Women with Responsible Investing
Investing in companies that have positive social impacts like gender equality, and women empowerment, women can grow their money while contributing to positive changes in society. The advantages of socially responsible investing are:
Helping Women-Run Businesses
Women-led business investments are considered socially responsible investments as they encourage women to flourish professionally. These investments do good to society and the economy as a whole.
Promoting Women's Rights and Education
Socially responsible investing for women directs the investments to companies that provide education opportunities and promote gender equality. These companies strive and contribute to the development of women across the world.
Supporting Sustainable Growth
By investing in companies that focus on eco-friendly practices, women indirectly help overcome social and environmental challenges and provide a better world for generations to come.
Financial Independence
Socially responsible investing helps women support financial independence and literacy by aligning financial decisions with their values.
Encouraging Positive Change
Business organisations will be compelled to promote gender equality and environmental-friendly practices with more women resorting to socially responsible investments.
Summary
Women today with careers have resources to invest for their future. However, impulsive investing can do more harm than good. They need to have a financial plan and follow it diligently to balance the risks and create a sufficient corpus. Choosing the best investment plan for women in India to align with their goals and risk tolerance is critical to optimise returns. Seeking the advice of financial planners will lead them in the right direction and help create wealth for financial stability.
FAQs on Best Investment Plan For Women
Q. Which is the best investment for women?
The best investment for women depends on their financial goals, budget, and risk tolerance. Fixed deposits, money market accounts, recurring deposits, etc., are some investment options for the risk-averse seeking capital protection more than returns. For ambitious women open to market fluctuations, mutual funds, stocks, bonds, etc., are good options. PPF, EPF, NPS, etc., are safe investments with guaranteed returns for retirement planning.
Q. Is it possible for women to start investing with a small amount of money?
Yes. Women can start investing in small amounts. With a smart investment strategy, even small amounts can culminate in a large corpus.
Q. Why is investing important for women?
Investing is important for women to attain financial independence. It also helps them contribute towards the family’s financial goals, provide for children’s education, empower them to express their opinions in economic decisions, etc.
Q. What are the tax benefits associated with investment options for women?
The funds allotted to investment options for women are eligible for tax benefits under Section 80C of the Income Tax Act 1961 up to Rs. 1.50 lakhs
Q. How can women achieve financial independence through investing?
Investing helps money grow and creates a corpus for women. They can contribute to financial goals like children’s education, buying a home, participating in financial decisions, and also having a financially independent retirement life.
Related Articles:
- Investing for Women: Top Strategies and Best Options
- Check the Best Investment Ideas for Beginners
- Best Investment Options for Salaried Person in 2024
- Best Investment Plan in India for the Middle Class
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Francis Rodrigues
Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.
Written By:
Vishal Subharwal
Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.
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HDFC Life
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1. Provided all due premiums have been paid and the policy is in force.
2. Save 46,800 on taxes if the insurance premium amount is Rs.1.5 lakh per annum and you are a Regular Individual, Fall under 30% income tax slab having taxable income less than Rs. 50 lakh and Opt for Old tax regime.
This material has been prepared for information purposes only, should not be relied on for financial advice. You should consult your own financial advisor for financial matters.
*Tax benefits are subject to conditions under Sections 80C, 80CCD and other provisions of the Income Tax Act, 1961. The afore stated views are based on the current Income-tax law. Tax Laws are also subject to change from time to time. Also, the customer is requested to seek tax advice from his Chartered Accountant or personal tax advisor with respect to his personal tax liabilities under the Income-tax law.
ARN - MC/12/24/19619
