No investment is entirely risk-free, but a few options which can be considered safe are government-backed instruments like PPF, NSC, Senior Citizen’s Savings Scheme (for those above 60 yrs age), as well as fixed deposits. Certain debt mutual funds like the liquid funds can also offer a reasonable level of safety. These investments are more suitable for short to medium term time horizon (up to 3 years).

However, safety often comes at the cost of growth. If your goal is to grow your wealth, it is important to select investment products aligned with the time horizon of your financial goals:

• Short-term goals: choose products with reasonable capital safety.
• Medium-term goals: opt for moderate-risk products.
• Long-term goals: consider high-risk products that have the potential for higher returns over time.

The real risk lies in your money growing slower than inflation. That is why taking calculated risks for long-term goals is often the smartest approach to achieving meaningful returns.