Hello,
Kindly advise me (50 yrs young un-employed) about investment techniques,scheme,fund required to maximize the Returns.
I am having Rs 1.5 Crore worth of US dollars in my FCNR FD(interest rate 2.7%).
Now. i am planning to buy an apartment in Bangalore,India with in the next 4 years.
kindly advise, how to invest these 1.5C to get the apartment.
i don't require 1.5cr in the next 5 years duration.
FD in banks fetching only 7%, plus tax i have to pay. so returns are too less
Thank you in Advance.
1 Answers
Hi,
You may consider combination of options like Short Term Debt Funds, Equity Savings fund (Hybrid oriented) or MIP schemes for the said duration. You can opt for Growth option.
Ex :
Franklin Low Duration Fund
SBI MIP Floater
ICICI Pru Equity Savings Funds
Or
Birla MIP Wealth 25 plan etc.,
Kindly note that not all fund houses offer schemes for investment for NRI based investors. Do note that the returns are not guaranteed on MFs unlike in FDs, as you are going to deposit large lump sum corpus.
Related articles :
https://www.relakhs.com/fatca-compliance-requirements-impact-mutual-fund-investments/
https://www.relakhs.com/best-monthly-income-plans-india-mutual-funds/
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