POSTED BY February 12, 2014 2:30 pm ONE COMMENTON
I have 3 LIC, which I pay yearly of 60 K. I want to start SIP for 1 year in ultra short term mutual fund and every month I will contribute 5 K. Most of the good performing ultra short term mutual fund return is 9 – 10 %
so, I will earn 5 – 6 K extra on the same amt. By the year end, I can also pay easily the yearly premium with less financial burden.
Is it possible ? If yes, plz suggest me 10 such fund or suggest such 1 year plan, how to execute
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One reply on this article “SIP for 1 year duration in Ultra short term mutual fund”
Dear Ghanshyam, the 5 to 6K extra earning ‘ll be there only if you invest all the 60K in one shot. How can you earn 10% meant for 12 months in just 1 or 2 or 3 months? Please think over your calculation mistake.
By the way, who ‘ll pay the Tax on your STCG from debt fund?