What is the best place to park a large sum of money for 3-6 months
Got money as proceeds of a flat sale. Planning to buy a new property for self use using this money and adding some more money. I need not put in escrow/infrastructure funds as sale has not resulted in any capital gain.
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You can put it in invoice investment avenues like Falcon. Much better rate of interest compared to FDs.
What’s Falcon? How risky is it? What’re the rates of return?
Came across it because a friend recommended it and has been using it for a year or so. Her husband recommended it to her and was using it for a while.
I haven't tried it myself yet, but I might in the future. Not sure about risk, still need to do more research on it.
Do your own research though.
https://play.google.com/store/apps/details?id=com.falconsgrup.userapp
how about ultra short term MFs?
Any recommendations?
go with either icici prudential ultra short term direct growth or nippon india ultra stort term direct growth
Do not put your money in stocks for 3-6 months. March is a profit booking month. Not good time given that everything nearly all time high. Better just go with LiquidBees or simply treasury bonds for 3/6 months validity. Can expect 5-6% of yearly return. Have a piece of mind with sovereign guaranteed investment.
Bank account.
Just my opinion ... Not a financial expert ...
if I were you I would have considered buying Safe Bet Stocks like HDFC and SBI cards stocks ...
But that's just me ... Not a stock recommendation..
Arbitrage funds are used by HNIs in such cases. Check PPFAS or any other. Better taxation on gains when compared to liquid funds, FDs.
Sale of probably puts you in HNI category directly anyway, so go for it.