How to invest 6-7lakhs for short period

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Deal Cadet
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My dad has 6-7 lakhs and is keeping money ideal.
I suggested mutual funds and shares but he is not willing to take risk.

Currently I have put 2lakh in dbs primary account,1lakh in dbs second account,1lakh in SBI,1lakh in PAYTM primary account and 50k in secondary account (not allowed 1lakh as I don’t have pan card of account owner).and have some 50-1L as cash.(hardly using 30k per month)

Please suggest how to invest this 6-7L with 0 risk. I am not thinking of very high returns. Just 10% I am expecting per year.
And I am require to withdraw at 6months also.
Please suggest some investment strategy.
Also ITR also please suggest

13 Comments  |  
11 Dimers
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Deal Lieutenant
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10% isn’t high return?

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Deal Cadet
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Simbha3 wrote:

10% isn’t high return?

Currently getting almost 6-7% and addl. bms/cb ~2%
avg getting 8% by my strategy.
But want experts advice to gain addl. 2% without any risks

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Deal Cadet
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You are insane, Why can’t you directly get the FD out of it? Y soo much segmentation? is 8% or 10% of 10L really make much difference? Better to get a liquid/short term fund else single FD and keep calm. rotating money doesn’t suggested/

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Deal Subedar
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10% pa is impossible. Make a FD in either a large bank or post office and control your greed for returns unless you are willing to take a large risk.

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Critic
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I’m planning to park 2L in debt mutual fund for 3 years (better than fd as u get benefit of indexation)

But I am confused how to choose the best one from them. Need the safest option with less exit load.

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Deal Cadet
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Sins1995 wrote:

I’m planning to park 2L in debt mutual fund for 3 years (better than fd as u get benefit of indexation)

But I am confused how to choose the best one from them. Need the safest option with less exit load.

We may Invest in Index fund for more return. ( Just a opinion.  I am not a financial advisor )

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Deal Cadet
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10 percent is a high return nowadays man

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Deal Cadet
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ModMod wrote:

You are insane, Why can’t you directly get the FD out of it? Y soo much segmentation? is 8% or 10% of 10L really make much difference? Better to get a liquid/short term fund else single FD and keep calm. rotating money doesn’t suggested/

My dad is not accepting liquid funds.
And why I segmented mainly for easy UPI transaction.suppose there is any offer I can avail using 4-5accounts

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Deal Subedar
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High Return = Risk Involved .
Make FD And Lessen Your Greed.

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Deal Subedar
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Open IDFC First bank account and create FD there.

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Deal Cadet
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sardasa wrote:

Open IDFC First bank account and create FD there.

FD doesn’t make sense, also is money safe with IDFC Bank? I doubt that they provide 1 lakh safety under govt. scheme.

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Deal Subedar
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abhishekkjain wrote:

FD doesn’t make sense, also is money safe with IDFC Bank? I doubt that they provide 1 lakh safety under govt. scheme.

Why does FD not make sense to you Mr. Jain?

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Critic
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abhishekkjain wrote:

FD doesn’t make sense, also is money safe with IDFC Bank? I doubt that they provide 1 lakh safety under govt. scheme.

Govt does not provide any safety,it is RBI that provides insurance upto 1 lakh & all scheduled commercial banks are covered whether public or pvt.
https://m.rbi.org.in/Scripts/FAQView.aspx...64

Q1 Which banks are insured by the DICGC?
Commercial Banks: All commercial banks including branches of foreign banks functioning in India, local area banks and regional rural banks are insured by the DICGC.

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