How To Choose The Right Savings Plan In Your 30s?

How To Choose The Right Savings Plan In Your 30s?


There are plenty of ways to grow your hard-earned money and create more wealth. However, you should know that there are no shortcuts. You must start planning for the future as soon as you get a job. Learning some financial management hacks can be handy for a great savings fund.

Top Savings Plan To Consider In Your 30s

Individuals aged 30 become more focused, indulged in their career path, and more tenacious about their finances. This is specifically true for individuals planning to have a family soon. To have a stress-freeand peaceful life in the future, you should start investing now.

Now here are a few fantastic financial tips for choosing the right plan from the options available in the market:

  • You must consider your monthly income and every possible expenditure of that month before choosing any savings plan. It will help you determine how much to invest. You can start with ₹500 if you want.
  • If you want incredible returns in the future, then you can go with equity funds.
  • Investing for the long run is safe as the short-term market volatility won’t affect the investments.
  • You must adhere to an investment routine and choose a savings plan where your investment premium automatically gets credited from your bank account as soon as your salary hits the account.

India has plenty of savings schemes based on financial security, popularity, and returns. Here are the three best savings plans that you can consider in your 30s to build a strong and stable financial status for the future.

1. NPS or National Pension Scheme

The NPS or National Pension Scheme is one of the ideal savings plans for investment in the 30s. This Indian government scheme is a long-term retirement plan regulated and controlled by the Pension Fund Regulatory and Development Authority (PFRDA).

This is the best savings plan if you’re not willing to take any risk. WithNPS, you can start investing with a minimum amount of ₹1000. Thus, it won’t put a hole in your pocket.

2. PPF or Public Provident Fund

A PPF or Public Provident Fund is considered an excellent investment opportunity as it is backed and regulated by the Government. It is one of the safest investments.

The fact that this investment is for 15 years makes it an ideal choice for individuals aged 30. Your investment will be protected with minimal risk while enabling a yearly tax-free dividend.

3. NSC or National Savings Certificate

An NSC or National Savings Certificate is a widely popular government-financed savings policy that anyone in their 30s should choose.

After all, it entitles them to guaranteed returns with tax savings. It is a super safe and secure investment opportunity with minimal risk involved. You can choose and invest in this policy for five years at any Post Office. The minimum amount you must invest is ₹500.

Visit here to invest in Kotak Guaranteed Savings Plan.

Ending Note

So, choose the best savings plan and take steps towards a better, safe, and financially stable future in your 30s. Get started with your investment plan today.

Click here to know more about Kotak Guaranteed Savings Plan: