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Money Matters

Things to Keep in Mind While Investing in Tax Saving Funds - YES BANK

Taxes are an unavoidable part of every person’s life. Everything from earning income to making a purchase is taxable. Most tax payers rush to buy tax saving investments in a frantic attempt to save taxes at the end of the financial year. Tax saving investments schemes are a blessing that can relieve the burdens of the Indian Tax payers. Tax saving schemes can be highly rewarding if you invest wisely. Tax saving investments should be done in accordance to your various financial needs and goals. The money should be distributed among different types of tax saving schemes to lower the tax burden as well as to build a sound financial portfolio. However, if you blindly invest your earnings, you are likely to be stuck with an unsuitable investment for a brief period of time. Therefore, in order to invest wisely, here a few tax saving tips to keep in mind before you invest in tax saving instruments:-

  1. Get Insured: -

    Insurance plans are a great tax saving instrument. However, many insurance agents will urge you to buy additional insurance policies. One should only opt for additional insurance policies if the existing insurance plan does not provide adequate coverage to fulfil your requirements. Life insurance policies are eligible for a considerable amount of tax deductions, which will enhance your savings to a great extent. YES BANK offers you the facility to invest in Life Insurance and General Insurance. Keeping your ease and convenience in mind, YES BANK also has a "Buy Online" feature for completing your transactions entirely online without having to move out of your desk. To know more, Click here

  2. Invest in Mutual funds:-

    Investing in mutual funds are a great way to boost your wealth and save taxes at the same time. Since the investments are market linked, the returns are substantially higher. Moreover, these investments are professionally managed and involves much less risk than investing in the share market. With innovative services such as the YES BANK 3-in-1 account, you can manage your investments as well as savings and Demat accounts concurrently. YES BANK’s 3-in-1 Account facilitates to offer you a complete online wealth-management solution. With an easy-to-use interface, regular research reports & updates and state-of-the-art technology, you can now navigate through stock markets effortlessly. An array of innovative online tools and quick access to market information makes the YES BANK 3-in-1 Account an effective option for everyone, be it market novices or seasoned professional traders. To know more, Click here

  3. Tax saver fixed deposits:-

    If you are a risk averse investor, fixed deposit is the best tax saving investment tool for you. However, there is a widespread belief that fixed deposits offer extremely low interest rates that are not enough to beat the rising inflation. With a YES BANK fixed deposit, you can avail significant returns along with tax benefits. The best part about investing in fixed deposits are the guaranteed returns coupled with high tax savings. YES BANK’s Fixed Deposits provide you greater earnings with the flexibility of maintaining your funds in accessible units; therefore, you do not need to break the entire deposit. Enjoy this privilege in different ways as YES BANK offers you a range of Fixed Deposit schemes that give you a good rate of interest, thereby providing you with a strong sense of security. To know more, Click here

In addition to the above offerings, YES BANK also brings you a comprehensive tax solutions programme! From personalized guidance on tax planning, calculation of tax liability, on-the-spot investment in tax saving products, and filing of IT Return, YES Tax Solutions is the answer to ALL your income tax related queries. To all your tax related queries, Click here

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