CosmicSushi
Where to keep my savings
I keep my savings in a bank account with a very average annual return. Shall I start to keep my savings in a low duration Debt Fund? Not all the amount but like 50% of the savings in Debt fund and rest keep in savings account.
18mo ago
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SwirlyTaco
Stealth18mo
How much money are we talking about?
Easiest is to ask your bank to enable Sweep-In for your Savings account. The delta above a specified cash (eg 10K) gets automatically converted to a FD.
When you need the money, the FD 'breaks' and you have instant access.
Marginally higher interest rates.
CosmicSushi
S&P Global18mo
Sounds good enough for me. Is this option available in SBI ?
SwirlyTaco
Stealth18mo
Yes. Called auto sweep. Thresholds are slightly higher than private banks - 25K iirc.
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