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There are many investment options in the market in which you can invest money. Although every kind of investment gives returns, but this is an option that will double your money quickly. Today we will tell you about some such options in which your money is safe as well as you get good returns.
If you also want to calculate the return on your investment and want to know which option doubles the money quickly, then for this you will have to apply the Rule of 72 formula on your investment. For this, whatever interest you get, divide it by 72 and whatever result comes out, that will be the time taken for your money to double. We tell you the complete calculation of how much time it will take to choose which option.
1. Bank FD: Currently, the interest rates of bank FDs have increased and many banks give interest up to 8 percent. If this interest is considered, then your money will double in 9 years.
2. PPF: PPF is giving 7.1 percent interest per annum. It will take 10.14 years for your money to double.
3. Sukanya Samriddhi Yojana: The interest rate in this scheme has increased to 8.2 percent since January. If you divide this interest by 72, your money will double in 8.7 years.
4. Kisan Vikas Patra: In this government scheme, 7.5 percent interest is being given. When this interest is divided by 72, it comes to 9.6, that is, your money will double in 9.6 years.
5. NSC: National Savings Certificate is currently giving 7.7 percent interest. According to this interest rate, your money will double in 9.3 years.
6. NPS: The National Pension System pays an average interest rate of 10 to 11 percent. If you assume an average interest rate of 10.5 percent, your money will double in 6.8 years.