POSTED BY April 15, 2012 5:53 pm COMMENTS (10)ON
Which Funds do I Invest in ? Liquid Funds OR Debt Funds.! for getting money auto-creidted on particualr dates?
I just found about this wonderful forum while researching on the Liquid Funds, however I have not answers to my satisfaction, so would appreciate if someone could throw in some light on the same..
I have build a strategy of my own to raise money every month by making small TERM DEPOSITS / FIXED DEPOSITS which mature every month though they might have the same OPENING DATE and the MATURITY DATE differs by a month for each FD..
Now, the rate of interest for these various FD’s differs depending on the duration..
Someone just mentioned that LIQUID FUNDS are preffered over FDS, so I would ike to know how I can do that?
My perinent question is that :
1. Can I Invest in these Funds online from my banking online account for the same bank/ different bank Liquid Fund? Ex: SBI Savings account website and Investing in the HDFC/AXIS or even SBI Fund?
2. If Yes for the above then does it happen the same day as analogous to opening an electronic FD in HDFC and ICICI? and also does it have a facility of Auto-Credit..
3. The Nationalised Banks still have the Paper FDS where you request them at the counter and you need to personally visit the bank and handover on maturity?
Can I avoid that and still get the same or better returns through a LIQUID FUND?
My Idea is to have 12 X FDs for Rs 7000 and the Maturiy of the First FD is going to be 6 months and then the second FD 7 months and so on so forth and the last FD would be 18 months..
Naturally all the FDs wont have the same interest rate the longer the duration the better the rate however in all of these above I have to still visit the nationalised bank..
So how do I get to make more money as well as make sure that I get the Rs 7000/- Principal and Interest in my account by the particular date?