Diwali is the festival of lights and a celebration of the triumph of good over evil. While it is an exciting time of the year, it can also be an opportunity for growth. It has become crucial today to consider your financial life with as much attention as you would give to other areas of your life. Investing is one of the best ways to create wealth and a brighter future for yourself. With many getting their Diwali bonus at this time of the year, this is the best opportunity for a good investment. Continue reading to learn more about the best ways to invest bonus money this Diwali.
Here are some key tips to save your Diwali bonus:
A smart way to invest your Diwali bonus is by depositing it into a Savings Account. This option provides a secure place to keep your idle funds, helping you avoid unnecessary spending while benefiting from attractive interest rates that can grow your savings. The festive season is an excellent time to open a Savings Account, as many banks offer enticing deals and promotions. For example, HDFC Bank's Festive Treats initiative lets you easily set up a Savings Account online, unlocking benefits such as cashback offers and exciting card promotions (subject to terms and conditions).
Investing in gold during Diwali is a wise choice. Not only does it enhance festive celebrations, but it also serves as a valuable asset. Gold can appreciate over time, providing the option to sell or use as collateral for loans. Plus, it can be cherished as jewellery or heirloom.
Explore these offers to make the most out of your gold or jewellery investment:
Click here to read more about buying gold during Dhanteras here.
Investing your money is not limited to wealth creation. It also includes putting aside funds for when you need them the most. To that end, you must invest in an emergency fund. You should set aside a portion of your monthly income and invest in this fund. However, you can also begin by setting aside a bit of your Diwali bonus.
Make sure not to use this fund for frivolous expenses. Thus, you can easily dip into this stash without worry if you are ever in a financial crunch. Use this Diwali as the perfect opportunity to opt for financial security even during unforeseen circumstances!
You should aim towards creating a diverse portfolio and invest in a range of instruments. For instance, you can pick from an array of mutual funds to invest in various asset classes in one go. You can pick an option that aligns with your investment goals.
For instance, a liquid fund for short-term investment or an equity fund for long-term wealth creation. To access different types of investment instruments like corporate bonds, government securities, stocks, etc., you need a Demat Account. At HDFC Bank, you can open a Demat
Account online, and as part of Festive Treats, you can do so in less than 10 minutes* at zero charges!
Establish a clear budget while allocating your bonus wisely and avoiding unnecessary expenditures. When shopping, be sure to take advantage of bank offers and discounts to get the best value for your purchases. Here is a list of offers that you can get from HDFC Bank:
Get 10% cashback or instant discount on your apparel and accessories shopping at top brands with HDFC Bank Credit Card and EasyEMI. The brands include:
T&C apply.
Make the most of your Diwali bonus this festive season. Click here to learn more about the HDFC Bank Festive Treats! You can open a Savings and Demat Account at HDFC Bank even if
you are not an existing customer. Click here to learn more.