Ways to Double your Money

 1)Bank Fixed Deposits :-

Interest rates for fixed deposits by 0.25% to 0.50% per annum. Investing in a fixed deposit, of any bank, to double money can take around 8 to 9 years.

2)Public Provident Fund (PPF) :-

Public Provident Fund or PPF is another popular and reliable investment scheme provided by the Government. In order to invest in PPF, a minimum deposit of Rs 500 per annum is required. The lock-in period for this scheme is 15 years ,The rate of return is offered at 8.75% per annum effective for that respective year of the fund.

3)Mutual Funds (MFs) :-

Long term mutual funds offer 12% to 15% per annum as rate of return. Doubling money through mutual funds will take approximately 5 to 6 years.

4)Gold ETFs :-

 Gold Exchange Traded Funds (ETFs), This  offer 22% rate of return annually. Though highly volatile, depending on the stock market, gold ETFs offer 22% CAGR during the tenure of 5 years, which means the money invested will be doubled in 3 to 4 years.

5)Stock Market :-

The annualized rate of return observed in the stock market in the last decade has been 15%. 

Investing in blue chip companies can have a scope of doubling the money in a time period of 3 to 5 years.

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