Investing Your Money in Post Office and LIC
The biggest concern when depositing or investing money anywhere in the country is its security.
On the other hand, the rules in the country are such that if you leave the money deposited in the stock market or mutual fund, it is not completely safe, even in the bank.
Although it is a different matter, there is a general perception in the country that depositing money in a bank means complete security. Well, the same is the case with the insurance sector.
However, even after this, there are 2 places in the country where the Government of India guarantees the money deposited. This guarantee means that your deposit is guaranteed to be returned with interest.
If you want to know where the money deposited in the country is completely safe with a government guarantee, then you can get information here.
Any citizen of the country can deposit money at this government-guaranteed location.
First, Learn About the Stock Market and Mutual Funds
Money is invested in the stock market and mutual funds. There is a risk associated with the stock market for the money invested here.
However, the higher the risk, the higher the chance of profit. This is the reason why not everyone invests money here. But it is true that there is no guarantee of the safety of investment money here.
Let us now know how secure your money is by purchasing insurance.
Except for LIC, Money is Not Safe in Any Insurance Company
The country has more than a dozen insurance companies. But very few people know that insurance policies bought from insurance companies do not guarantee safety.
However, in the country, only life insurance taken from the Life Insurance Corporation of India (LIC) guarantees the safety of investments.
This guarantee is given by the government of India. This guarantee means that even if LIC becomes insolvent, the money will be returned to the people as per the terms of the insurance purchased.
Let us now know how safe the money deposited in the country’s banks is.
Even Money Deposited in Banks is Not Completely Safe
People in the country blindly deposit money into banks. However, very few people are probably aware that all the money deposited in the bank is not safe.
Money deposited in a bank is only insured up to Rs 5 lakh under certain conditions.Both principal and interest are considered in this amount of Rs 5 lakh.If any bank in the country fails due to any reason, then only up to a maximum of Rs 5 lakh can be returned to the account holders of that bank.
It can be understood in this way: if someone has a deposit of Rs 5 lakh, including principal and interest, he will get the entire amount back.
But if someone’s principal and interest together exceed Rs 5 lakh, he will be drowned.
Let us now know where in the country the government provides security guarantees for money deposits.
Only the Whole Money Deposited in the Post Office is Safe
If you want good interest in the country and complete security of the deposited money, then that place is the post office.
The Government of India guarantees the security of the money deposited at the post office. In such a situation, no matter how much is invested in the savings account at the post office or in any scheme, it can never sink.
In such a situation, if people have to deposit more than a fixed limit, then they should also invest in the deposit scheme of the post office.
By the way, more interest is also available in other schemes, including the FD of the post office.
