Have you heard of LIC Mutual Funds? They are one of the best. Life Insurance Corporation of India started “LIC Mutual Fund” in 1989. They have many schemes that would give you more benefits than any other investment like fixed bank deposits. This article will help you get more details.

What is NAV?

NAV is called the “Net Asset Value” of the particular scheme. While the fund is being launched, the net asset value of one unit will be set at Rs 10. Once the fund becomes operational, the net asset value of the scheme will vary accordingly at the end of each trading day and you can get the most recent net asset value details from related websites or the LIC website.

Benefits:

• The NAV of the particular scheme would help you measure the performance of the particular scheme. That will help you buy units at a much cheaper price so you can earn more money.
• If you invest in systematic investment plans, and if the NAV of the particular unit goes down in a particular month, then you can buy more units, which would help you buy the units at a much cheaper price.
• Some of the schemes offer Tax Benefits for investors under “Section 80 C” of the income tax law. Under this scheme, you will not be able to withdraw the amount for 3 years, that is, there would be a lock-in period for 3 years. Investors can claim tax benefits for the amount invested.

Next step: read more details about the benefits and start investing.