Know About the Best NRI Investment Plans in India
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Foreign investment in any country is always a sign of its healthy economic growth. And when the country’s own non-resident citizens choose to invest in it, even better. India has made clear progress on both these counts – making steady economic progress over the past few decades and attracting Foreign Direct Investment (FDI) from all quarters, even from Non-Resident Indians (NRIs). In a move to further appeal to the NRI community, the Govt. of India has also opened access to a number of investment options in their home country. Let’s look at the best investment plan for NRIs in India which promises them maximum returns.
Top 5 Investment Plans for NRI in India
Top 5 Investment Plans for NRI in India
Here are the top investment options if you’re an NRI and wish to invest your earnings in your native homeland:
National Pension Scheme
This is so far the best investment plan for NRI investors, owing to its government-backed assurance. The National Pension Scheme or NPS allows NRI investors between the age group of 18 and 60 years to make investments in either equity or debt or both. NRIs can open two types of accounts in India while investing in this scheme, namely Non-Resident Ordinary (NRO) Account and Non-Resident External (NRE) Account. The investor needs to produce a copy of their PAN card and Aadhar card to open the respective accounts.
Mutual Funds
Another of the most popular NRI investment plans in India that not only promise healthy returns but also assure tax benefits. However, mutual funds investment plans in India for NRI investors allow investments only in Indian currency. They can be made through both NRO and NRE accounts, as is the case with NPS. To attract young and first-time NRI investors, the Systematic Investment Plan or SIP allows for systematic or regular investment of small amounts. This helps create financial discipline among the investor while assuring regular good returns as well.
Unit Linked Insurance Plans
Commonly referred to as ULIP, these plans are also quite popular among the NRI audience since they incorporate the best of both worlds – investment and insurance. This way, the investor can look forward to more earnings along with securing the future of their loved ones through insurance. A part of the premium under ULIP plans goes towards covering life insurance while the other can be used for investment in equity and debt to maximize returns.
Fixed Deposit
The most common and also the best investment plan in India, Fixed Deposit schemes have always been popular among Indian and NRI investors alike. In case of the latter, they can either use the NRO or NRE accounts in India to invest in FDs or open an FCNR account if they wish to deposit any foreign currency that they earn in India. The best thing about investing in FD is that it remains unaffected by fluctuations in the market. This is why they’re one of the popular short-term investment plans for NRI investors.
Equity Funds
If you’re looking for a one-time investment plan in India, then your search ends here. The Reserve Bank of India allows NRI investors to put their money in the Indian stock market under RBI’s Portfolio Investment Scheme. NRIs can use the NRE and NRO bank accounts to make investments in equity funds. In addition, they can also open a Demat Account, or a Trading Account to easily make investments in the Indian stock market.
Why Investment in India is a Good Option for NRIs
In case you’re still contemplating on whether or not you should put your hard-earned money in the Indian market, here are some reasons why investment in your homeland is actually a good idea:
- It gets you healthy returns on the amount you invest, considering that India is steadily growing in terms of economic development. Any amount of money invested at this time in the Indian market is sure to reap good returns.
- You can look forward to building financial assets for your family and yourself. Investment in a property in India, for instance, creates wealth for the NRI by way of rent. It can also be used as security in case of applying for a home loan.
- You can hope to secure the future of your family back home in India since these investments might come of use in case of unforeseen financial emergencies.
- Creating any form of additional wealth in the form of investments helps you retire in peace. You can be rest assured that you have enough savings, not just abroad but also in your home country, to comfortably lead the kind of life you’d imagined post retirement.
Before investing your money in the Indian market, make sure to check on the best investment plan for NRIs and read all the terms and conditions carefully to make a safe and informed choice.
Author Bio
Paybima Team
Paybima is an Indian insurance aggregator on a mission to make insurance simple for people. Paybima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. Paybima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
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