Since you are talking about emergency fund, its best to keep in savings account! Rather than anywhere else!Hi All, I am looking for some suggestions on where to park emergency funds.
According to me, open a FD in bank with the term giving highest interest rates and break the FD incase of emergency. A penalty will be charged but still you will get better returns than Savings account & Liquid Funds.Hi All, I am looking for some suggestions on where to park emergency funds.
According to me, open a FD in bank with the term giving highest interest rates and break the FD incase of emergency. A penalty will be charged but still you will get better returns than Savings account & Liquid Funds.
Penalty:
HDFC: 1% less than interest rate at the period of breaking FD.
SBI : 0.5% less than interest rate at the period of breaking FD.(upto ₹5,00,000)
1% less than interest rate at the period of breaking FD.(above ₹5,00,000)