https://www.desidime.com/discussions/need-advice-for-utilising-money-in-mothers-account?page=1#post_9136125
FD not made? Only as savings a/c balance currently?
Even sweep in FD facility is good for quick liquidity and high returns...
need advice for utilising money in mothers account
- 346
- 8
-
- Last Comment
hello friends
my mother having account in canara bank and she has some amount of nearly 3-4 lakhs , it is her salary account .
Shall we keep account in bank or else move to some postOffice / MIS or somewhere else
pls advise me where shall i put the money so that my mother get the best benefits for her .
Expiring In
17 days
Disclaimer
We are not SEBI/IRDA registered. The information provided herein is for education purposes only. We will not be responsible for any of your profit/loss with this channel's suggestions. Consult your financial advisor before making any decisions.
Top Comments
7 Comments
|
5 Dimers
- Sort By
https://www.desidime.com/discussions/need-advice-for-utilising-money-in-mothers-account?page=1#post_9136181
If you don't have any emergency funds, then put these money in a FD using ladder method
https://www.desidime.com/discussions/need-advice-for-utilising-money-in-mothers-account?page=1#post_9136665
Agnivo007 wrote:FD not made? Only as savings a/c balance currently?
Even sweep in FD facility is good for quick liquidity and high returns...
what about SIP ?
also some ppl told me about Postoffice MIS , is it good ?
https://www.desidime.com/discussions/need-advice-for-utilising-money-in-mothers-account?page=1#post_9136680
Agnivo007 wrote:Sweepin is one of the most profitable instrument for bank. Sweep-in facility gives same returns as savings interest if it is withdrawn before maturity.FD not made? Only as savings a/c balance currently?
Even sweep in FD facility is good for quick liquidity and high returns...
Plus savings interest has 10,000 limit as deduction and fd has no such tax benefit.
https://www.desidime.com/discussions/need-advice-for-utilising-money-in-mothers-account?page=1#post_9136851
As @ConfirmPassword said, if you wish to keep liquidity and balance floating in savings account (you say 3-4L) with the added clause of upto 10k tax free interest, then open an account at Bandhan Bank (just "standard" type will do 5k MAB) and just park the fund in savings... Interest rates: https://bandhanbank.com/rates-c...es
https://www.desidime.com/discussions/need-advice-for-utilising-money-in-mothers-account?page=1#post_9137020
Agnivo007 wrote:As @ConfirmPassword said, if you wish to keep liquidity and balance floating in savings account (you say 3-4L) with the added clause of upto 10k tax free interest, then open an account at Bandhan Bank (just "standard" type will do 5k MAB) and just park the fund in savings... Interest rates: https://bandhanbank.com/rates-c...es
I have better investment ideas. My intention is to tell that sweep in facility provided by the bank is of no benefit to the end user.
AVOID sweepin.
https://www.desidime.com/discussions/need-advice-for-utilising-money-in-mothers-account?page=1#post_9137387
Agnivo007 wrote:As @ConfirmPassword said, if you wish to keep liquidity and balance floating in savings account (you say 3-4L) with the added clause of upto 10k tax free interest, then open an account at Bandhan Bank (just "standard" type will do 5k MAB) and just park the fund in savings... Interest rates: https://bandhanbank.com/rates-c...es
Park ur money in idfc bank
Click here to reply
Reply
If you don't have any emergency funds, then put these money in a FD using ladder method