80C: SAVE 1.5 LAKH `

1 FANCY TAKING MODERATE RISKS? Buy ELSS: EquityLinked Savings Schemes ( ELSS) are mutual funds that allow you to invest in the stock market and claim tax deductions. You can start investing from ` 500 a month. You can start and stop your ELSS investment as per your wish. ELSS funds have a three- year lock- in — the lowest of any tax- saving instrument. This means you can redeem your money quickly. You can register online with a mutual fund aggregator or fund house to start investing immediately.

2 DON’T LIKE RISKS? Invest in PPF: The Public Provident Fund is the best tax- saving and long- term investment scheme for those investors who eschew risk. Currently, PPF offers 7.6 per cent returns, which are completely tax- exempt. Open an account via your participant bank with just ` 100, and pay ` 500 a year to maintain your account. PPF have a 15- year tenure and partial withdrawals are allowed from the sixth year.

3 JUST NEED A QUICK, SAFE TAX SAVER? Get A 5- Year FD: A five- year fixed deposit is just that — a deposit you open with your bank or local post office for a tenure of five years. The returns currently hover around 7 per cent. The deposit amount can be tax deductions.

4 NEED LIFE INSURANCE? Get A Term Plan: Your first life insurance should be a term insurance policy. These allow you to cover your life risks at low costs. If you are a 25- year- old male with no tobacco habit, earning ` 4 lakh annually, you can get a life cover of ` 1 crore with annual premiums starting from ` 6,143. You can compare and buy these online, and also add useful riders and add- on such as accidental death cover.