A Handy Guide to Best Investment Options for NRIs in India 2024

Living outside India surely has its advantages. No matter where one lives, investing the money is always an ideal thought. Whether an NRI earns in dollars or Euros, an NRI has the option to invest in the Indian market and secure the future subsequently. Over the last two decades, India has surely witnessed industrial developments.

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This has surely led to attracting foreign direct investments. Therefore, India has become a viable destination for NRIs when it comes to investing.

First things First!

Who is an NRI?

In the simplest words, NRI stands for Non-resident India. This means any individual who is an Indian citizen but lives abroad.

Any individual who has been living in India for 182 days in the preceding financial year. Or has lived for 60 days in that year specifically or has been in India for continuous 365 days for the last four years is also considered an Indian resident.

Any citizen of India who does not meet the above-mentioned criteria as the ‘Indian Resident' is a non-resident of India and is treated as an NRI for paying the income tax.

With each passing days, the government of India has been making India more conducive for business. With a plethora of options to invest in India, sometimes the NRIs’ find it difficult to sort the best investment options in 2023.

Yes, you read right. The NRIs’ do have options for investment.

The following are the best investment option in India for the NRIs in 2023 considering the returns:

Public Provident Fund

One of the safest investment options in India is investing in the Public Provident fund. The Public Provident Fund is a scheme backed by the Indian government. Any Indian or non-Indian resident is permitted to invest in the Public Provident Fund. The present return rate on the investment of PPF is 7.1 per cent per annum. The Public Provident Fund comes in with a lock-in period of 15 years. The maximum sum that can be invested is Rs 1.5 lakh each year. Moreover, investing in the Public Provident fund also offers tax deductions within Section 80C of the IT Act.

Fixed Deposit

The fixed deposits are popular even in the NRIs. The bank fixed deposits are another safest investment avenue for the NRIs to invest in India 2023. The NRIs can begin with the fixed deposit with their NRE, NRO or FCNR accounts. The interest rate depends upon the bank, the sum that one deposit and the term of the deposit. The banks and NBFCs’ mostly offers high-interest rate on the high sum deposited for the long terms. A high-interest rate is offered to senior citizens. Investing in the fixed deposits is ideal when the NRI is risk-averse and does not mind settling for the average returns.

National Pension Scheme

The National Pension Scheme is another reliable investment option as it is government-backed. Just like the Public Provident Fund, investing in the National Pension Scheme comes along with tax benefits. The accumulated amount during maturity remains tax-exempt. Investing in the NPS is as safe as investing in the FD or a PPF.  Any individual aged between 18 years and 60 years can invest in the NPS and offers yearly interest of 09per cent to 12 per cent. 

Mutual Funds

Mutual funds are an investment that has moderate risk. Mutual funds offer high returns when compared to the bank fixed deposit. An individual should pick the fund houses as per the risk profile and financial objectives. The NRIs’ can invest in the mutual funds through the NRE or NRO accounts. The investment needs to be done in Indian rupees and not the foreign currency. The return rate offered by the mutual fund in India depends upon the type of fund invested.

Equity Investments

In case an NRI is an aggressive investor, then investing in equity is an ideal investment option. The NRIs can easily invest in the stock market of India within the portfolio investment scheme of RBI. The NRIs mandatorily should have an NRO/NRE account and the trading account to invest in the stock market of India.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Real Estate

Over the last decade, real estate prices have surely skyrocketed. The NRIs’ can easily buy properties in India and put them out for rent. This helps to fetch a handful amount. The present scenario provides an excellent opportunity for investment in real estate for the NRIs’ as affordability is at a higher point. Post the COVID-19, this sector has certainly drawn more investment from the NRIs in both the long and short term. Real estate is a fair way to invest at minimum risks.

Home is Where the Heart Is

Undoubtedly, no matter where one goes, home is where the heart is. This is most often the case with the NRIs’ who have left a part of themselves behind in India. India is one of the largest recipients of international remittances, which means that the NRIs are connected to the roots.

Investing in India helps to create wealth and also help the economy of the country. The NRIs have a plethora of investment in India 2023 to choose from. Analyze the requirements and risk appetite before deciding the investment option. Investing in India is ideal as it is expected to see developmental activities over the coming decade.

Past 5 Year annualised returns as on 01-05-2024

^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.

*All savings are provided by the insurer as per the IRDAI approved insurance plan.

Tax benefit is subject to changes in tax laws. Standard T&C Apply
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.

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