where to save the money?

what is the best source to save the money for more interest rates otherthan investment over shares

where to save the money?
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2 Replies to “where to save the money?”

  1. Look at online banks for online savings accounts or CDs. They’ll generally pay much better than your corner bank, yet are still FDIC insured. You can compare rates offered at bankrate.com

  2. The best investment is the one which is best for your personal situation. This means the risk level, asset class, type of fund and your goals, timeframe and financial profile must all agree. The best way to find out is to do a financial plan enabling you to have a blueprint of your situation and where you are going. An investment plan will give you a precise indication of which funds to buy.I have the following options for you:

    Your best bet is a SIP (Systematic Investment Planning) where you put a small amount monthly in a mutual fund, Some diversified equity funds to look at (for investing with a tenure of 3-5 years) are DSP BR Top 100 Fund, Sundaram Select Midcap Fund, HDFC Top 200 Fund, DSP BR Equity Fund and Benchmark S&P CNX 500 Fund. However, your allocation to them would depend on your risk appetite as this represents a basket of large cap, midcap and multicap funds. We can help you with a financial plan and handling the investment. Investing in gold systematically and at dips. The allocation can be between 5-7% of your total portfolio. You can either buy physical gold, or invest in a gold fund or buy Gold ETFs. Click here to access our article on Gold ETFs:

    2) You could take a term cover to protect the goal and invest in PPF/ Equity/ Equity Mutual funds as savings or you could invest in a ULIP product depending on the amount you wish to accumulate. You can invest on a monthly basis. You could even invest some portion (5-8%) in gold.

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