Investment options that could be suitable for poor people

 For people with limited financial resources, it is important to focus on investment options that are low-cost and low-risk. Here are some investment options that could be suitable for poor people:  

 1.Savings Accounts: A savings account is a basic financial tool that offers a safe and convenient place to store money. Savings accounts typically offer a low interest rate, but they are insured by the government, making them a safe option for storing money.  

2.Fixed Deposits: Fixed deposits are a type of investment that offer a fixed rate of return. They are low-risk and can be opened with a relatively small amount of money. Fixed deposits typically offer higher interest rates than savings accounts, but the money is locked in for a fixed period.  

3.Public Provident Fund (PPF): PPF is a government-backed savings scheme that offers a higher interest rate than savings accounts and fixed deposits. PPF accounts can be opened with a minimum deposit of Rs. 500 and offer tax benefits under Section 80C of the Income Tax Act.  

4.Recurring Deposits: Recurring deposits are similar to fixed deposits, but instead of depositing a lump sum of money, you make regular deposits over a period of time. Recurring deposits offer a fixed rate of return and can be a good option for people who want to save regularly.  

5.Micro Savings and Investment Apps: Many companies have started offering micro-saving and investment apps, which allow people to invest small amounts of money regularly. These apps typically invest in low-risk options like government bonds and offer a small return on investment.  

Remember, before making any investment decision, it is important to assess your personal financial situation and consult with a financial advisor to determine the best investment options for your needs and risk tolerance.