Investment Tips: Wife gives tremendous benefits in these 3 places, profit doubles

Investment with Wife: You may be investing in many places to make your future better, but if you include your wife while investing in some places, then your profit can be doubled. Apart from this, the wife can also get you many benefits. Here know in which schemes you will benefit by investing together with your wife.

Post Office's MIS scheme is a scheme that gives you income every month. In this, you earn through interest on your deposited amount. After 5 years, your principal amount is returned to you. In this scheme, you can invest up to 9 lakh rupees in a single account and can earn Rs 5,550 every month at the rate of 7.4​% interest. But in a joint account with your wife, your maximum investment limit will be Rs 15,00,000. In such a situation, you can earn up to Rs 9,250 per month through a joint account at the rate of 7.4% interest.

PPF scheme is very popular in terms of making money and saving tax. As per the rules, a person can open only one PPF account in his name. A maximum of Rs 1.5 lakh can be deposited in it annually. But if both you and your wife earn, then both of you can open this account in your respective names. In this way, both husband and wife can deposit up to Rs 1.5 lakh each annually and can get separate interest on these. In this way, both their investment limit and interest can be doubled. Currently, the interest rate of PPF is fixed at 7.1 percent. This investment has been kept in E-E-E category. Meaning, your investment, interest and maturity amount are all completely tax free. The provisions of clubbing have no effect on this.

Buying a house is also an investment because the value of property increases with time. Nowadays people buy property with home loan. When you buy property by making your wife a co-applicant and take a joint home loan, you get many benefits. The first benefit is that the loan is a little cheaper. Usually, lenders offer about 0.05 percent (5 basis points) lower interest rate if there is a female co-applicant. Apart from this, if both your wife and you earn, then the limit of the loan amount also increases.

Joint home loan also provides income tax benefits. This doubles the tax benefit. On applying for a joint home loan, both the persons taking the loan can avail different income tax benefits. But this benefit will be available only when both the applicants are also the owners of the property. You will get double the tax benefit if you take a joint home loan with your wife. On the principal amount, both of you can claim Rs 1.5 lakh each, i.e. a total of Rs 3 lakh under 80C. On the other hand, both of you can get a tax benefit of Rs 2 lakh each on the interest under section 24B. In this way, you can get a tax benefit of up to Rs 7 lakh in total. However, this will also depend on the amount of your home loan.