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SillyBiscuit
SillyBiscuit
Wipro

Invest ₹15 lakh

I need to park ₹15 lakh as an emergency fund, in something low risk. Fixed Deposits don't cut it due to penalties on early withdrawals. Any ideas for investment options that offer quick access and decent returns?

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ZestyBurrito
ZestyBurrito
Stealth4mo

Idfc first saving account, give same interest as normal FD. No charges.

SqueakyWaffle
SqueakyWaffle
Stealth4mo

Keep 5-5 lakhs in 3 different small finance banks, which are offering good interest rates in Savings account

PrancingMuffin
PrancingMuffin
WS Atkins4mo

Mutual Funds

QuirkyDumpling
QuirkyDumpling
Stealth4mo

Liquid MFs / Arbitrage Funds if holding is more than 3 months as arbitrage funds may give negative returns for a month

TwirlySushi
TwirlySushi
Sixt4mo

You can park the money in liquid debt fund. It offers returns similar to FD returns, and you can redeem anytime after 7 days without any charges. However, you will have to pay tax as per you income slab rate during redemption.

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