These Investments Can Soon Double Your Income

Interest rate on highly safe small savings schemes by the post office are highly coveted owing to their safety and tax efficiency. Also, there are other investments which offer tax deduction together with high returns from exposure to equity such as NPS. Now when it comes to investments, the rule that decides when your corpus in a given scheme shall double, there comes into play ' Rule of 72'.

Rule of 72:

It is a formula based technique wherein by dividing the numeral figure 72 by the interest rate offered on the investment you would know, in what time the return shall double.
Now this formula can also be used alternatively, say you know the likely timeframe in which you wish to double your income flow, then you can divide the number 72 by that figure say 72/3 = 24 percent returns shall be yielded by the investment.

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