The end of the financial year is approaching and we are all aware that it is this Saturday, the 31st of March.

As the year-end approaches, do you have enough tax-saving investments made for the financial year 2017-18?

If you haven't exhausted your Rs 1.5 lakh tax exemption under section 80C, you better do it today as the holidays might bring a disruption even though the banks are open of the 31st of March 2018. You can make the following investments just using your net banking facility:

1. ELSS

Note that 29th and 30th of March are bank holidays and 31st is a Saturday this means that the stock market will be open only in April after today; which is the next financial year.

On that account make your ELSS (equity-linked savings schemes) investment before 3 pm today. This is because investments after that will be accepted at the NAV of the next opening day of the stock market; which will be April 2nd.

You can make the investment on the ELSS of your choice before 3 pm so that the account statement shows the investment having been made on 28th of March 2018.

2. ULIPs

You can visit the insurer's website and buy the Unit Linked Insurance Plans (ULIP) online. By buying them online, you do not need to pay any intermediate fees to agents.The entire application and payment process can be made using net banking/credit card and Aadhaar details.

3. PPF

Starting a new Public Provident Fund (PPF) may not be possible in a day from the bank's side, however, if you already have an account, you can transfer funds online using the net banking facilities of the linked savings account.

4. Fixed deposits

A 5-year lock-in period fixed deposit qualifies for tax deduction under 80C. Also, this will be the easiest of all the above investments as it just requires you to just log into your net banking account and transfer from there. The redemption amount after maturity will also be directly credited to your account.

Caution

The above-mentioned investments are only suggestions to be considered. You should not make investments just for tax savings purposes without considering your financial plans.

For example, locking your funds in a fixed deposit that gives minimal interests will not seem like a clever investment for wealth creation on a long run. Kep these factors in mind to avoid making a dead investment.