Dear All,
I wanted to know the best possible way to invest or save & invest for one of my SHORT TERM Goal.
I will require 5 lacs in a period of 4-5 years.
I surely can’t go with Equity related products as the timeframe is very near.
I have considered the following options.
1. Bank Recurring Deposits – Good as per current Interest rates, but after Tax adjusted it is not a good option (not sure of the current interest rate to previal for all my 4-5 years tenure)
2. Fixed Deposit for 5 Years – I have to invest in lumpsum now to get at lumpsum after 5 years
3. Balanced Funds – This is one of my option to go with – What you guys say???
4. Keep in my SBI (Auto Sweep) Account – With Interest rate at 8.5 this can be an option but again it attracts Tax.
Any other ideas so that i give out less tax and get some good amount of interest on the way i accumulate money for my goal.