Are mutual funds good choice for ultra-short term over recurring deposit
Ultra short-term funds are a type of mutual funds that invest in fixed-income instruments which are mostly liquid and have short-term maturities. Recurring Deposit is a special kind of Term Deposit offered by banks in India which help people with regular incomes to deposit a fixed amount every month and earn interest at the rate applicable to Fixed Deposits. Investing in ultra-short debt funds are a good mutual plan investment as it offers best and more returns than recurring deposits. These funds offer 9 – 12% returns while recurring deposits give 5 to 6% of returns. However, there are moderate risks associated with ultra-short term funds. So you need to do some research and then invest your money in it. These are the best ultra-short debt funds in India: Indiabulls ultra-short term debt funds ICICI PRUDENTIAL FLEXIBLE INCOME PLAN HDFC FLOATING RATE INCOME FUND–ST PLAN ADITYA BIRLA SL SAVINGS FUND FRANKLIN INDIA ULTRA SHORT BOND F Visit their websites and invest accordingly.
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