What's the best kind of financial services I should invest in from my bank?

[Corinthianus]

So I had saved some money (like $1000) and decided to deposit it in my savings account at the bank. When I got there though I saw some other services that would give a higher rate than my savings account like time deposits, a high yield savings account, some UITFs and mutual funds. Now, I don't need to use my money right away so I could put it in any of these financial instruments but I don't know where to start as I have never had anything more than a savings account. Any idea where I should put my money? I'm really not familiar with funds and time deposits. Thank you!

 

[agbuyarashel]

I think you should search or study first about investments. There are many options but you need to choose according to your profile.
I encourage you to know what type of investor are you; conservative, moderate, or aggresive. There are several sites where they'll ask you some questions and they'll tell you what type of investor you are. After this, they will give you security recommendations and it will be easier for you to choose which investment products to try.
Personally, I'm also a beginner and right now, I only invested on a mutual fund just like what my proffesor suggested. My earning is low but it's not risky and I'm still learning.

 

[sohailafzal]

i think you can invest in high risk merchant account and other prize bonds etc things, you can also invest in shares.

 

[MommySaver]

I have recently invested in post office monthly income scheme and it promises to give great output. As compared to other schemes in India, it is one of the highest-earning schemes with an interest rate of 7.6%. Also, the investment just starts from 1500 INR per month.
MIS Calculator | Calculate Earnings From Post Office

 

[Alexandoy]

Ask the bank if they have a special program like depositing your money for 5 continuous years. That is also called long-term time deposit because the bank can use your money for 5 years. When the economy is good banks usually give the double your money package. That means you deposit your 1,000 today and after 5 years you will get 2,000. That is a minimal interest earning compared to other investments like stocks or forex but the money is safe in the bank that you will have peace of mind. My savings that I plan to buy a parcel of land is still in the bank for 2 years now while I am waiting for more funds to augment my budget to buy land.