NRI Investment Plans for Women Working Overseas: Where to Begin?
NRI Investment Plans for Women Working Overseas: Where to Begin?
The Indian financial markets have widened a lot over the last few decades, and now, you can invest in the markets from anywhere in the world.
Table of contents
The best NRI investment plans for women:
Looking for the best NRI investment plans for women? Here’s a quick guide to smart, stable, and growth-oriented options that help you build wealth across borders.
- Fixed deposit
To begin with, you have the option of investing your money in an NRI fixed deposit. NRI fixed deposits are special FD schemes available exclusively for non-resident Indians. You get attractive interest rates and also get to choose the ideal investment tenure. Fixed deposits are quite preferred among women looking for NRI investment plans, as it is safe, stable and allow them to meet their financial goals in India while living and working abroad.
Fixed deposits for NRIs can be from their NRO (Non-resident ordinary) Account or NRE (Non-resident External) Account, and the only difference is the tax treatment, which needs to be discussed with your tax consultant.
- Mutual fund
Another among the most popular NRI investment plans is the mutual fund. Mutual funds have become the preferred investment tools for Indians from all walks of life. The non-resident Indians are also taking a keen interest in mutual funds, since the returns are quite attractive and they allow them to seamlessly meet financial goals. Women living and working abroad are actively investing in mutual funds these days, making it easy for them to save and attain their monetary targets.
- ULIPs
The unit-linked insurance plans, also known as ULIP, are yet another good option in the NRI investment plans category. A ULIP is a type of plan where insurance and investment are combined. You also get some very handy ULIP tax benefits for NRIs, which proves to be an added benefit. ULIPs are available under different risk profiles, and as an NRI woman, you can choose the fund based on your risk appetite.
Reasons why women should invest in NRI investment plans
Whether you choose a unit-linked plan for the ULIP tax benefits for NRIs, or you go for a fixed deposit to get fixed returns, you must invest in India. Here are some common reasons why women working abroad look for the NRI investment plans:
- To save and get tax benefits
One of the biggest reasons is to get tax benefits. If you directly remit your money back to India, there may be several tax reductions. However, making use of smart tools such as the ULIP tax benefits for NRIs helps you to save tax and maximise your earnings while you wisely invest your money in India.
- To pay off loans
If you moved abroad for a job right after college, and you still have an unpaid student loan or personal loan in India, you may consider looking into the NRI investment plans. These plans help you to build up a corpus in a short time, which further helps you to clear all the dues. Rather than burdening your elderly parents with the loan repayment, consider investing your money in one of the many options listed above and become debt-free quickly and conveniently, while enjoying additional benefits such as the ULIP tax benefits for NRIs.
- To support the dependent family members
Many women who have dependent family members, such as parents and siblings, move abroad after they get married, leaving their family in a financial crunch. If you are in a similar situation, you can consider one of the NRI investment plans. Choose a smart option, such as an FD, where you get regular interest payouts. Direct the money towards your dependent family members and easily fulfil your financial responsibilities. If you choose a ULIP, your life stays covered, and in the case of your untimely demise, the financial future of your loved ones stays safe as well. And this happens while you enjoy the ULIP tax benefits for NRIs.
- To create a corpus
If you have a good job abroad and have a handsome income, think about your future and build up a corpus now. You may return to India in a few years, and with the help of the finest NRI investment plans, you can build up a secure financial future. Along with that, you can also enjoy the ULIP tax benefits for NRIs, which can help you manage your finances even better. So, be money-wise and create a financial plan, see how much of a corpus you wish to create and set a time period for it. Then, explore the NRI investment plans, and choose the one that matches your requirements. You will then be well on course to achieve your economic goals.
Conclusion
Keep all the points mentioned above in mind and choose the best NRI investment plans. You have some great options, and along with that, added benefits such as the ULIP tax benefits for NRIs. Speak to your financial advisor, understand your financial requirements and then find the ideal option for yourself.
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