Yesterday I wrote an article about Debt Mutual Funds. I got a few questions about the liquidity and safety of a particular fund. So, I am adding a few more points. Many Debt Mutual Funds like Nippon, Axis and HDFC offer instant redemption and you get the money within 30 minutes. Safety of money means…
Tag: Money
FDs are destroying your wealth
If you are still making FDs of your monthly savings, you are destroying your wealth. Interest on FDs is taxable. That means the current interest rate of about 5.5% effectively gives you ~3.8% return on your money (Assuming you fall in the highest income tax slab). With more than 6% inflation, your money is losing…