Hello Experts,
I was planning to move my emergency fund from Savings account to a liquid fund, and hence have finalized on HDFC Cash Mgmt Savings liquid fund.
Well, when I look at the VRO –> HDFC Cash Mgmt Savings –> Fund Details section of it. I find Min Balance as Rs.100,000/-. Also, the min. initial investment is Rs.10,000/-. I am confused.
Here is the link to VRO – http://www.valueresearchonline.com/funds/funddetails.asp?schemecode=695
Can anyone help me in understanding these terms?
I am planning to create an emergency fund for me and put money in liquid fund. Initially, I will be putting around 30k and then will add subsequently as and when I do any savings.
Thanks in advance.
Kapil Malhotra