HDFC Retirement Plan: Rs 15 lakh becomes Rs 30 lakh after five years. What is the name of this plan?

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HDFC Retirement Plan: Some people who do jobs, their salary is in lakhs.. Some who do business, they get profit of crores.. but they do not even have 100 rupees in their pocket. This is because they do not have a proper financial plan. They do not know how to save money from their income, where to invest it. In this context, many ways of investing money are becoming available recently. Many people who want to save money do fixed deposits. By doing this you will get a fixed amount of profit every year. Many people recommend investing in mutual funds over a long period of time for higher returns.

People who want to invest in mutual funds must have some risk appetite. Because interest is paid to them based on market conditions. On the other hand, Fixed Deposit has no relation with the market conditions. But if the market goes up in mutual funds, then the profits will be higher. Recently HDFC Bank has introduced a scheme. It is said that if you invest in it for five years, you can earn up to Rs 30 lakh. It is said to be a good plan for those nearing retirement.

Claiming to be HDFC Retirement Savings Fund Equity Plan, those who invested Rs 15 lakh within five years have now got double their money. Apart from this, the central government is providing a special scheme for senior citizens. Same as Senior Citizen Scheme. It also earns high interest. Presently 8.7% interest is being given. Retired people are told that if they get money, they can invest in it.

Financial experts say that these will be useful for the retired people. Many people deposit this money in the bank. or Fixed Deposit. However, doing so is likely to attract tax. They say that there will be no tax on investing in the same mutual fund. If the markets turn bullish as expected, profits are sure.