Best Investment plan for 1 or 2 years ?

[Mr Simplifier]

hey everyone,
I have a situation, I have my health and term insurance and I pay the premium annually. I am looking for the best way to save monthly for a year or 2. I save almost 2.5k every month for this.
Is there any better option than liquid funds?

 

[theraj0007]

hey everyone,
I have a situation, I have my health and term insurance and I pay the premium annually. I am looking for the best way to save monthly for a year or 2. I save almost 2.5k every month for this.
Is there any better option than liquid funds?

IF YOU HAVE RISK APPETITE YOU CAN GO WITH SMALL CAP MFS OR MULTICAP MFS OTHERWISE GO WITH MIDCAP MFS.

 

[zacobite]

hey everyone,
I have a situation, I have my health and term insurance and I pay the premium annually. I am looking for the best way to save monthly for a year or 2. I save almost 2.5k every month for this.
Is there any better option than liquid funds?

RD / Conservative hybrid fund.. pay premium via amz pay with GV loaded.. get additional discounts via cc

 

[Mr Simplifier]

IF YOU HAVE RISK APPETITE YOU CAN GO WITH SMALL CAP MFS OR MULTICAP MFS OTHERWISE GO WITH MIDCAP MFS.

How risky are small-cap funds in such short duration ?

 

[theraj0007]

How risky are small-cap funds in such short duration ?

IT IS VERY VOLATILE AND MORE RISKY THAN ANY OTHER MFS . YOU CAN ANALYSE MF LIKE QUANT SMALL CAP OR NIPPON SMALL CAP .
INVEST WISELY.

 

[zacobite]

How risky are small-cap funds in such short duration ?

v risky v v risky

 

[guptajoy961]

hey everyone,
I have a situation, I have my health and term insurance and I pay the premium annually. I am looking for the best way to save monthly for a year or 2. I save almost 2.5k every month for this.
Is there any better option than liquid funds?

Hey there! So, you’re looking to save some money on your health insurance premiums, right? Well, I’ve got some tips that might help you out:

1. Have you thought about a high-deductible health plan (HDHP) with a health savings account (HSA)? These plans usually have lower monthly premiums but higher deductibles. The cool part is, the money you save on premiums can be put into an HSA. This gives you some tax benefits and lets you save for future medical costs.
2. Another option could be a health savings plan (HSP). It’s a combo deal - you get health insurance coverage and a savings component. You can put a part of your premium payment into a savings account for qualified medical expenses.
3. Don’t forget about tax deductions! You can claim a deduction of up to ₹25,000 for individual coverage and up to ₹50,000 for a family floater plan under Section 80D of the Income Tax Act. This can help bring down the cost of your premiums.
4. Ever considered a longer policy term? Many insurers offer discounts for multi-year coverage. This could help you save on your premiums over time.
5. Living a healthy lifestyle can also lead to lower premium costs for your health insurance plan. Insurers often give discounts to policyholders who keep themselves healthy.
6. You could also look into a top-up or super top-up plan to boost your coverage without a big increase in your premium. This can give you extra protection without hurting your wallet.

Now, about liquid funds. They can be a good choice for short-term savings as they offer low risk and easy access to your money. But, you might want to check out other savings options too, like high-yield savings accounts or fixed deposits, which could potentially offer higher returns. Hope this helps!

 

[Prince]

RD can be one of the way, as want the funds to be safe. and liquid funds returns are not guaranteed.
You can have the RD in small finance bank for higher returns.

 

[Mr Simplifier]

RD can be one of the way, as want the funds to be safe. and liquid funds returns are not guaranteed.
You can have the RD in small finance bank for higher returns.

What is the Rate of Return of RD in small Finance Bank?

 

[Skylar]

 

[Skylar]

Bro, I personally feel that if you’re needing funds within a year, it’s not advisable to invest in equities or mutual funds. Consider the following scenarios:

1. High Returns Dilemma: Imagine your equity or mutual fund starts yielding impressive returns. FOMO creeps in—you think it might go even higher, and you hesitate to withdraw. But now, you’re stuck because you need that money to pay for insurance. You end up using extra cash from your bank account just to meet the insurance obligation.

scenario 2. Underperforming Investments: On the flip side, if your equity or stock isn’t performing well and its value is lower than your initial investment, you find yourself trapped.

Here are two alternatives:
1. Auto Sweep Account: Consider putting your funds in an account with an “Auto Sweep” feature. This way, any excess balance beyond a threshold (usually ₹10,000) automatically gets converted into a fixed deposit. It ensures liquidity while earning interest.

2. Separate Savings Account: Alternatively, leave the funds in a separate savings account that offers around 4% interest. Then, use credit cards that provide rewards on insurance payments. For instance, if you buy Amazon Pay Gift Vouchers with an Amazon Pay card, you’ll receive 2% cashback (I use this method). and 5% if you use SBI CB Card. (Heard in community haven't tried/tested)

 

[The INSANE Trader]

hey everyone,
I have a situation, I have my health and term insurance and I pay the premium annually. I am looking for the best way to save monthly for a year or 2. I save almost 2.5k every month for this.
Is there any better option than liquid funds?

Give a try to Goldbees.

 

[Prince]

What is the Rate of Return of RD in small Finance Bank?

You can fetch

8% Int for 18 Months in AU Bank
8.2% Int for 12 Months in Equitas SFB and many others offering higher also, such as Unity SFB, Shivalik SFB, Suryoday SFB