Many a times, investment plans and investing in funds requires us to be patient and awaiting for almost a decade to pass and then only we can gain returns or profit depending upon the market situation. It is not always possible to invest in long-term plans since there may be people who do not want to lock their money for a long period as they might need them anytime soon.

Given below is a list of ways by which you can easily grow your money in short terms:

Bank FDs: A fixed deposit plan can be signed up for both short-term and long term. Starting for a period of 7 days up to a period of 10 years, you can choose any of the plans which you feel would suffice your needs. You also have the privilege of renewing your plan on maturity if you do not require the amount at that moment. Nowadays, you can even invest in fixed deposit schemes online.

Company FDs: Just like you fix a sum for a shorter duration in the bank, various companies such as manufacturing companies and non-banking finance companies (NBFCs) also offer to invest in short-term deposits. However, these companies have tenures that lasts more than a year and these deposits are also unsecured when compared to the FDs of the bank.

PO deposits: In a post office, you can invest in deposits for any of the tenures like 1, 2, 3 or 5 years. They calculate the interest annually and you cannot withdraw the amount until the completion of 6 months. If you wish to withdraw your money before maturity then you might get an interest calculated on the sum of money at a reduced rate.

RDs: It is a very simple procedure of investing money for short durations. While other investment schemes make us pay a sum of money only once, a Recurring deposit signed up at the bank will enable you to pay small amounts of money every month that start from a period of 6 months to 12 months. Online deposits are also open now. You can pay your fixed amount at regular intervals to the bank via the online portal.

Debt mutual funds: these are classified into four categories such as liquid fund, ultra-short duration fund, low duration fund and money market fund. In a liquid fund, the money market securities lasts up to 91 days and an investment is made into debt, while in ultra-short duration fund the securities lasts from 3 to 6 months.

In a low duration fund, the money market securities are for a period of 6 to 12 months. Just like others, a low duration fund is also invested in debt. Money market fund is also similar in a way to low duration fund since its maturity last up to a period of one year.

Thus, we learn how we can utilise our money to grow in short term periods and give us profit without holding much risks and taxes. However, you must always keep in mind that while investing in short-terms, returns would be calculated on the sum you invest on entirely hence, you should not be clinging to the wealth creating option much but of preserve your capital.