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PPF for debt (anyway capped at 1.5L/year)
Mutual Funds - index if you are handsoff (>20% pa)
Direct equity - if you want to play the markets (>40% pa)
You are already ahead if you are able to save in Mumbai from a T3s salary.
Invest in your health from day one. best retirement plan.
As an incoming A0 at a T3 firm in Mumbai from a small town in India, where should I invest my earnings for a good retirement? PPF or NPS or Mutual Funds/Equities?