POSTED BY February 23, 2011 3:18 pm COMMENTS (2)
ONWe need to keep cash reserve of at least 3-6months of expenses. What is the best place to keep this cash reserve and make this money also generate money even if it is small?
I planned to keep this money in couple of savings accounts and use Money Multiplier (ICICI bank) or AceMoney (Kotak bank)? In these facilities they offer 8% interest instead of 3.5% of savings account.
Can experts and other users through some light on it? Are there any better ways to keep this reserve?
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Jayaprakash –
There are some discussions on this forum regarding this. I suggest you go through them
Here are a couple
http://localhost/jagoforum2/recently-read-a-article-about-emergency-funds-which-said-first-have-an-emergency-fund-then-invest-now-the-as-the-author-suggest-should-one-stop-all-investments-like-sip-and-all-first-make-an-em/1156/
http://localhost/jagoforum2/emergency-fund-and-its-management/1028/
Thanks ajay that was really helpful. Sorry for not searching for these before posting it.