Best option for emergency/debt investment option ?
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Emergency fund FD mein kaun rakhta hai??!! Will take time to get it out
PPFAS is planning to launch a Liquid fund with Insta redemption. Meaning you can redeem the units and money will be credited to your account within 30 mins. I think this should be best for parking emergency funds (something like a sudden hospital expense)
As far as saving up for expenses in case you lose your job, then ig you can go for fds in senior citizens name (probably ur grandparents) or go for debt funds giving good returns. Cuz here you don’t need the money instantly, you’ll need it over the span of a couple of months Fds for senior citizens give you around 7.5% returns, debt funds give around 8 to 9% return But fds are insured up to 5 lakhs, on the other hand debt funds come with a credit risk
What do you think? Any other alternatives?
Savings account -no
Open FD/s and take an overdraft against it for liquidity .
Serves investment(Debt) +emergency purpose
All of the above.