GroovyPenguin
GroovyPenguin
5mo

Where to invest surplus funds

Hii, I have some surplus funds in my account which stays there in my savings account earning 2-3% interest. I want to put this fund somewhere so that I have liquidity to withdraw anytime and earn more interest rate than this. I am already making investment in mutual funds and stocks. Can I go for liquid funds? Can I withdraw from them instantly or not? Can someone suggest...

5mo ago
JumpyPancake
JumpyPancake

Go for the arbitrage fund for good liquidity.

GroovyPenguin
GroovyPenguin

Do they have instantaneous withdrawal?

JumpyPancake
JumpyPancake

Yes. 2 days of withdrawal time

PeppyPretzel
PeppyPretzel

Liquid funds won't yield much

GroovyPenguin
GroovyPenguin

Then anything else, where I can have liquidity?

FuzzyPretzel
FuzzyPretzel

Arbitrage funds. Better tax benefit than FD if you are in 30% + tax slab

GroovyPenguin
GroovyPenguin

But their return is less than liquid funds. Do they have instantaneous withdrawal?

SparklyBiscuit
SparklyBiscuit

Idfc bank give 7% interest on savings bank if balance> 5L

PeppyPretzel
PeppyPretzel

I too keep most of my savings at IDFC First Bank

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