6 replies on this article “Can I keep my Emergency fund in Saving bank account ?”

1. Ashal Jauhari says:

   August 8, 2013 at 4:45 am

   Dear Anil, please keep the money in FD only. Return for such short term is not important but safety of your basic principal is the utmost priority here.

   Thanks

   Ashal

   Reply
2. Ashal Jauhari says:

   August 4, 2013 at 10:27 pm

   Dear Anil, can you quantify this SOON? I mean after what time you need money?

   thanks

   Ashal

   Reply
   1. anil kumar says:

      August 7, 2013 at 6:56 pm

      Thank Ashal for replying.
      It would be minimum 6 months.

      Reply
3. nsabhyankar@gmail.com says:

   August 4, 2013 at 8:12 pm

   1. You can also keep a part of the emergency fund in a liquid fund. You can redeem the fund units in a day or two. Quantum liquid fund is a good option to consider.

   2. Do not just mentally see the funds as emergency fund. Consider opening a separate savings account with auto FD option as dear Ashal has suggested. Try to avoid having the emergency and day to day expense funds in the same account. It would take self control and discipline not to dip in the emergency fund unnecessarily.

   I suggest you should plan your budget for the marriages and the amount you wish to maintain as the emergency fund. Separate it out.

   Reply
4. Ashal Jauhari says:

   August 3, 2013 at 11:41 pm

   Dear Anil, please convert your existing bank account to sweeping Fd account & your money ‘ll be converted to Fds automatically & you ‘l start earning higher rate of interest. In case of need, you can get back your money with out any penalty.

   thanks

   Ashal

   Reply
   1. anil kumar says:

      August 4, 2013 at 6:17 pm

      Thanks Ashal for replying.

      Pl’s suggest, as few friends of mine are advising me to invest in Debt Fund.

      Reply

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