Any other Option otherthan Fixed deposit

Discussion in 'Money Matters' started by ambika04, May 28, 2010.

  1. ambika04

    ambika04 Gold IL'ite

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    Hi,

    I have about Rs 50,000 pf claimed amount.I would like to know what is best option to invest other than Fixed deposit for a short period say 3 to 5 years only. Can anyone suggest me what can be done ??Thanks in advance.
     
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  2. shakambari

    shakambari Platinum IL'ite

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    You can invest in Post Office Term deposits,M.I.S.,or mutual funds or even gold coins.
     
  3. shaishav

    shaishav Silver IL'ite

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    Hi Ambika,

    Firstly, find out the tax implications on the claimed amount.

    Secondly, invest it in a balanced mutual fund like HDFC Prudence and DSPBR Balanced equally and forget it for 5 years.

    Regards,

    Shaishav
     
  4. Saisakthi

    Saisakthi IL Hall of Fame

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    HAVE A GREAT DAY!!!

    OM SAIRAM

    Dear Sister,

    You can invest in MUTUAL FUNDS in AXIS BANK NAV has a very good rise and you will have good returns in 3-5 years my personal experience

    Thanks
     
  5. ambika04

    ambika04 Gold IL'ite

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    Thanks shakambari,shaishav,sakthi(I will check with Axis).

    Shaishav can you elaborate how to go about DSPBR Balanced Fund.
     
  6. shaishav

    shaishav Silver IL'ite

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    Hi Ambika,

    You can contact your bank for investing in DSPBR Balanced fund (growth option). I am sure they will help you out and it will be hassle free process for you. Which bank account do you have?

    Regards,

    Shaishav
     
  7. ambika04

    ambika04 Gold IL'ite

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    I have in bank of India.I will check with them.
     
  8. shaishav

    shaishav Silver IL'ite

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    Hi Ambika,

    BOI is a distributor of DSP BlackRock Mutual Funds and their AMFI qualified advisers or relationship managers will be able to help you out with the investment. Please inquire about charges if any.

    Also, beware as the relationship manager you will meet as he will have targets to achieve and can suggest you to invest in some other scheme.


    Regards,


    Shaishav
     
    Last edited: Jun 3, 2010
  9. Priya_Mommy

    Priya_Mommy Gold IL'ite

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    Shaishav,
    I really appreciate your inputs on investments and this money matters forum is becoming a most happening forum in IL with all your help.

    I need some information before going to diversified MFs. Sofar I have experience in ELSS ones for almost 5 years.
    For ELSS,I know the 3 years of lockin and exit load will be null and after 3 years based on current NAV they wil pack back.
    Now, I wanted to go for diversified MF's, but do they have any lockin period???
    IF at all there is any lockin, what will be early withdrawl charges??

    Can I go ahead and withdraw those MF"s which has cross 3 years??or can I continue??
     
  10. shaishav

    shaishav Silver IL'ite

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mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi;} .MsoChpDefault {mso-style-type:export-only; mso-default-props:yes; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:Calibri; mso-fareast-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi;} .MsoPapDefault {mso-style-type:export-only; margin-bottom:10.0pt; line-height:115%;} @page Section1 {size:8.5in 11.0in; margin:1.0in 1.0in 1.0in 1.0in; mso-header-margin:.5in; mso-footer-margin:.5in; mso-paper-source:0;} div.Section1 {page:Section1;} --> </style><!--[if gte mso 10]> <style> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} </style> <![endif]--> Hi Priya,

    Thanks a lot for your appreciation.

    Effective August, 2009 there is no entry load in any mutual funds. I cannot recall any diversified equity fund which has an exit load or lock in especially the ones I have suggested in other threads.

    You should invest in open ended diversified equity mutual fund which does not have any lock in or exit load.

    I would suggest you not to withdraw the funds you have already invested. Keep it for long term and watch it grow as it has already completed 5 years the chances of the value going below the principal amount is almost nil.

    For any fresh investment you can start in diversified equity mutual funds like DSPBR Equity, HDFC Top 200, HDFC Equity, DSPBR Top 100.

    Regards,

    Shaishav
     

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