Dear Sreekanth,
Greetings and good wishes.
I have a NRE FD of Rs. 29 lakhs maturing on 8 Nov 2017. Kindly advise if I should renew it @ 6.5% p.a (being NRE FD, interest is not taxed) or should I switch to an appropriate mutual fund scheme. I do not need this amount for the next 5 years and am also not looking at getting any regular returns from it during this 5-year period.
Awaiting you valued advice.
Regards,
Chander
1 Answers
Dear Chander,
Have you invested in any mutual fund schemes?
For a 5 year time-frame, investment in FD may not be advisable. You may consider investing in STPs (Systematic transfer plan) from Liquid funds to one large-cap fund and one balanced fund.
Kindly note that returns from MFs are not guaranteed and I am assuming that you are aware of the risks associated with MFs.
Related Articles :
https://www.relakhs.com/avoid-fixed-deposits-rds-for-long-term/
https://www.relakhs.com/best-balanced-mutual-fund-schemes-review/
https://www.relakhs.com/best-mutual-fund-schemes-2017/
https://www.relakhs.com/best-mutual-fund-scheme-risk-ratios/
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