Dhanteras, which is on October 23 this year, is all about making investments in things that are supposed to bring luck, success, and security. A significant number of Indian households follow the tradition of buying gold on the auspicious day. As we approach Dhanteras, many people will be planning to make such purchases this year as well. Apart from gold, here are seven other investments you can make this Dhanteras.

1. Digital Gold

There are many options for investing digitally besides purchasing actual gold. Digital gold can be purchased online, with an equivalent amount of physical gold paid and stored on the customer’s behalf in a secure vault. Several platforms, including PhonePe, Paytm, and others, make it simple to purchase digital gold. To provide the service, most of these platforms collaborate with government-recognized gold refiners in the country, such as MMTC-Pamp, Augmont, and SafeGold.

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2. Sovereign Gold Bond (SBG)

The Reserve Bank of India issues sovereign gold bonds on behalf of the Government of India. The minimum investment amount is 1 gram, and the bonds are denominated in multiples of grams of gold with a basic unit of 1 gram. Investors can earn an annual interest rate of 2.50% on sovereign gold bonds. These bonds have an eight-year maturity period with an exit option after the fifth year. The redemption price is determined by the current gold price. According to experts, if a buyer holds on until maturity, a sovereign gold bond is an effective way to invest in non-physical gold. If there are any capital gains at maturity, they are tax-free. This is a unique benefit available only on gold bonds.

3. Mutual Funds

Mutual funds have grown in popularity in recent years. Throughout market cycles, mutual funds are great investment tools that let you invest methodically in small amounts. Mutual funds, however, involve low cost investments and are a safe, disciplined investment option. Therefore, you can choose to invest in a variety of fund types, including debt, equity, or a hybrid of the two, depending on your goals, risk tolerance, and investment criteria.

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4. Property

Dhanteras is the ideal time of year to purchase a new house or plot of land. According to ancient Indian mythology, purchasing real estate during this festival shields the occupants from unfortunate events. There are currently a plethora of offers from banks and properties from builders available, making it an excellent time to invest. The mid-2010s banking crisis caused a sharp decline in property prices as well, and they have remained relatively stable ever since. 

5. Automobile

Dhanteras and Diwali bring a wide range of appealing offers and deals on automobiles. Although purchasing a car is not considered an investment because its value depreciates year after year, many people consider it lucky to do so on Dhanteras. However, trading in your old car for a new one is still an investment, and that is what the festival is all about.

6. Silver and gold ETFs

On Dhanteras, investing in metals such as silver and gold is considered auspicious. Instead of jewellery, you can buy silver and gold ETFs on this festival. Exchange traded funds (ETFs) are traded on stock exchanges and require a Demat account for the buyer. ETFs have no lock-in period and lower transaction costs than physical gold. Gold ETFs are also accepted as loan collateral. There are numerous Gold and Silver ETF schemes on the market. There is also the option of investing in new fund offers of Gold and Silver ETF fund of funds. There are currently two new fund offers (NFOs) of Gold and Silver ETFs available for investment. The deadline for applying for these schemes is October 21.

7. Insurance

We are all aware that insurance is for protection, so investing in a good term insurance policy can serve as an asset for you and your family. While doing so, be wary of policies that combine insurance and investment. In the long run, these may cause more harm than good. By selecting life and health insurance, you can ensure that you have adequate risk coverage. A floater health insurance policy is ideal if you have a young family.