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I retired from govt service by 28th Feb 2010. Kindly advise me how to grow my money with safe
Thiru
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I planned to invest/deposit of Rs.10 lakhs with monthly good return. whether I can deal with a single bank or different bank with different mode of investment. Kindly advise me for further progress.
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Fixed Deposits
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Asked by K R Thirugnanam -
1 year ago
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Best Answer:
Yes you must deposit some amount this is the most safe option of investment and can get returns monthly. But deposit with nationalized banks though they have low interest rate but money is safe. You can deposit in two different banks for different durations. Then you can do investment in recurring deposit you get a Wide Choice in Period of Deposit
* Flexibility in period of deposit with maturity ranging from 12 months to 120 months.
* Low minimum monthly deposit amount.
* You can start a Recurring Deposit with SBI for a monthly installment of Rs.100/- only. You can avail a loan/overdraft against your deposit.
You can invest in Monthly Income Plans offered by mutual funds can also be considered for their regular dividend payouts. Though the rate of dividends or payouts is not guaranteed, one can always expect higher returns than from guaranteed return products, depending upon prevalent market conditions. Then you should invest for capital appreciation. For this you can go for debt-based mutual fund schemes, they are transparent, highly liquid and tax efficient.
To know Best FD rates offered by different banks visit rupeetimes.com.
1 year ago - By Dinki
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