Have you heard of LIC Mutual Funds? They are one of the best. Life Insurance Corporation of India started "LIC Mutual Fund" in 1989. They have a lot of schemes that would earn you more benefits than any other investments like bank fixed deposits. This article would help you to get more details.
What is NAV?
NAV is called "Net Asset Value" of the particular scheme. While the fund is launched, the NAV of one unit would be fixed Rs 10. Once the fund starts performing, the scheme NAV value will vary accordingly at the end of the each trading day and you can get the latest NAV details from related websites or LIC website.
- The NAV of the particular scheme would help you to measure the performance of the particular scheme. That will help you to buy units at a much cheaper price so that you can earn more money.
- If you invest in Systematic investment plans, and if the NAV of the particular unit goes down in a particular month, then you can buy more units which would help you to buy the units at a much cheaper price.
- Some of the schemes offer Tax Benefits for the investors under the "Section 80 C" of income tax act. Under this scheme, you will not be able to withdraw the amount for 3 years ie there would be a lock in period for 3 years. The investors can claim tax benefits for the amount that has been invested.
Next Step: Read more details on Benefits and start investing.