Investment is the best way to grow your savings and income. Investment is the passive way to generate more income . More return , more income.
72 Rule:
number of year that your money double = 72 / rate of interest per annum
yes if you divide 72 with rate of interest then you will get number that is the time for your money get double. for example you have invest 3 lakhs at 12 % rate of interest then your money get double in (72/12=6) six years.
There are best 8 investment ideas:
1. Fixed deposit
2. PPF (Public Provident Fund)
3. NPF (National Pasion Scheme)
4. Sovereign Gold Bonds
5. Real Estate
6. Stocks / Mutual Fund
7. Crypto
8. SIP