Extra Income Ideas: Want to earn an extra ₹5000 every month alongside your job? You don't need huge investments or high risks. Some smart, small investment ideas can help. Learn about 5 easy options to generate side income.
You can earn a good income with Recurring Deposits (RD). Start an RD in a bank by saving ₹1000-2000 every month. It offers 6-7% annual interest. After 1 year, you will receive a lump sum, which you can reinvest to grow.
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2. SIP in Digital Gold
Nowadays, you can invest in Digital Gold with just ₹100. Rewards are also offered during festivals like Akshaya Tritiya or festive seasons. Investing in it can provide good returns in the long term. You can easily generate up to ₹5,000 monthly from this. However, it depends on your investment.
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3. Invest in Mutual Funds
Start a SIP in Mutual Funds with ₹500 per month. Equity Mutual Funds can offer annual returns of 10-12%. In 3 to 5 years, you can generate a side income of ₹5,000.
Invest ₹5,000 to ₹10,000 in a local business of an acquaintance. You can earn monthly income as a profit share. You can earn more income by investing more money. This is less risky and more preferred.
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5. Peer-to-Peer (P2P) Lending
You can earn interest by lending money to people through RBI-approved Peer-to-Peer (P2P) Lending. It can offer annual interest of 9-12%. The risk is moderate. So always choose the right platform.
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Keep these things in mind
Always research before investing money in any scheme. Make small investments with discipline. Keep a long-term perspective so that the income of ₹5000 can gradually become permanent. Consult a market expert before making any investment.
