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Please like for dm.
Laxmi chit fund
Rising Star
It's an emergency fund. It doesn't have to beat inflation. Your future retirement funds and long time goals are the ones which need to beat inflation. So just keep them in a sweeping FD and a bit in a savings account so that you can withdraw in case of an emergency.
Yeah agree..!
Arbitrage
Pro
Real estate
Rising Star
Love this one. Real estate as an emergency fund. I hope everyone does tht😂🌚
In your wife's account 😝
Rising Star
Put it in yes bank floating rate fd, its good. Repo rate + 1.6%. Guranteed by deposit insurance upto 5L
I will suggest to put the money in FD and Liquid Fund. Bear in mind taxation associated with each component. First try to put money in FD while taking advantage on taxation. Once you have exhausted that limit then put money in liquid fund. Putting the money in liquid fund can grow some money and there are lower taxation if invested for more than 3 years.
There are some alternative such as gifting the money to your parent and ask them to open a FD. Make sure you are not invested more than 5 lakhs per person per bank.
Sure..thank you so much for your insights
Chief
Mix of MF, FD, Gold
But if we invest in these option , I cannot take it immediately na..?
I planned to split emergency money into two half..
First half - liquid funds
Second half - in savings account
My worries is about the inflation.
Can anyone suggest me good liquid funds
Chief
MF: You can get money in max 1-3 days
Gold: Within se day you can get money, you don't even need to sell the gold..you can take gold loan on 0.9-1.0% per month from any reputed jewellery store
FD: Most probably on same day max within 1 day you can get your money
You dont need to keep more than 1L per person in liquid funds (Count your family members), considering you jave health insurance, term insurance, lics etc + 1 month of your average monthly expenses. So if you have 4 members in your family amd your avg monthly expenses are 1L per month including all emi etc..jist keep max 4-5L in liquid funds and rest all in MF, Gold, FD