Want to invest Rs. 75 K. Kindly suggest.

POSTED BY Manu Agarwal ON April 1, 2013 12:08 pm COMMENTS (8)

Hi..

I am 27 years old and am considering to invest Rs. 75,000/- in a scheme that offers me flexibility in top up in the coming years and also yield good returns on the investment.

I already have a pension plan under LIC for which I pay approx. Rs. 26,000/- every year. Besides this I also have a medical insurance for me and my wife, the premium of which is around Rs. 7,000/-

What I have in my mind is to go for a pure insurance (with cover of almost 70-75 Lacs) and to invest the rest in some good mutual fund scheme.

Would request for your advice if this would be the right decision and if yes, then which mutual fund scheme should I be going with?

8 replies on this article “Want to invest Rs. 75 K. Kindly suggest.”

  1. dear Dev, yes both banks are offering this sweeping Fd facility. Please contact your branch/customer care to move ahead.

    Thanks

    Ashal

  2. Dear Dev, the money should be in sweeping FDs only. In this case no penalty & the money ‘ll come from FD to SB automatically.

    Thanks

    Ashal

    1. Dev says:

      Thanks for the reply. Is Sweep facility available in ICICI bank Savings account,. Because i am having account with ICICI and my wife account in AXIS.

  3. Dear Manu, how w’d you handle an emergency in between if it knocks at your door?

    Thanks

    Ashal

    1. Dev says:

      Ashal

      Even i do have one query related to Contingency fund ( 6 months of expenses). Do we need to keep the amount in SB account or in form of FD (which can be broken anytime with penalty).

  4. Manu Agarwal says:

    Dear Ashal:

    Thanks for your reply.
    I think I am ready to invest this amount now as I have created a small emergency corpus which I am planning to increase with time.
    Can I still request you to suggest a good mutual fund scheme in which I should put in some funds?

    Thanks

    1. What does this mean:
      scheme that offers me flexibility in top up in the coming years

      investing depends on time frame. If you are willing to invest for over 10 years then invest fully in a equity scheme like quantum long term equity. Else diversify and have some debt component.

  5. Dear Manu, do you have your emergency corpus in place? if not, please create that first.

    thanks

    Ashal

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