If i spend Rs. 10000 on the first day of billing cycle, then i have over 30 to 40 days before i pay the bill. I want to invest it to generate extra returns. What would be the safest way to do it?
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Where to park money for short period?
- Thread starter rp0703
- Start date
I invest in Bharatpe's 12% club and Mobikwik's Xtra+. They give daily interest @12% per annum. If you want to be fully safe then keep it in Savings account in RBL/AU Bank/Equitas. They offer good interest on savings account as well. I invest just after billing date and keep money in 12% club or Mobikwik Xtra+ for 40 days and withdraw it and pay off the bill.
AU better just park in savings account, every month 1st day interest credit happens
AU is just 3.5 upto 99,999 and 5% upto 9,99,999.
Using over 1 year, no issues from 12% so far
Previously the used to instantly credit the money you 'withdraw' from them now it takes atleast 24 hours but not more than 48 hours, same thing with deposits too
Previously you could deposit money before 8 PM and earn 'interest' for the day.
In 12%, I'm investing since a year(I have invested Rs. 10 lakh in my mother's account to avoid tax). Mobikwik Xtra+ is recently launched. Withdrawing is faster in Mobik Xtra+ otherwise I personally feel 12% club is more safer as they lend to Merchant owning BhartatPe Merhant QR.
yes mostly all parkings we should have more than 1l always (Indusind even for 1l i think we will get normal interest and if we keep 1l and 1 rupee the revised interest)
I think RBL has 4.25%. I don't have AU. I keep my emergency corpus fund in Equitas and RBL bank. Rest short term investment in P2P(12% and Mobik Xtra+) and Invoice discounting. Long term investment obviously Equity and MF zindabad
Invoice disc i had small experience with Future Retail Limited where do u used to do?I think RBL has 4.25%. I don't have AU. I keep my emergency corpus fund in Equitas and RBL bank. Rest short term investment in P2P(12% and Mobik Xtra+) and Invoice discounting. Long term investment obviously Equity and MF zindabad
I started with TradeCred platform last year. Now I have switched to Jiraaf. No default so far. Have received 12-15% return on time.
Even TradeCred is good. I switched to Jiraaf as it was giving slightly more return (~1-2%). Other than that I never had any complain with TradeCred as well.
Yes, But I diversify. If you see my reply above. I invest for short term in 12% club, Mobikwik Xtra+ and Invoice discounting(TradeCred/Jiraaf). I don't prefer keeping all my eggs in one basket.
I used to invest in PPF in my initial days of my career(For 80C deduction) now I just put Rs. 500 per year to keep the account active. My 80C deduction gets covered by EPF(>1.5 lac per year). Started investing in NPS(Rs. 50k per year) since last year only to save on tax. I personally don't like to invest in govt scheme but EPF is mandatory and NPS for tax saving purpose.
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