Best options for investment needed

[azura]

Hi,
Me and my sister will get around 30-35 Lakhs as nominees for settlement of my deceased father's account.
Could you all please suggest the best way to utilise/invest the amount?
I haven't handled such huge sum of money and would like to know what would be the best options for me and sister.
Any guidance/help would be appreciated.

 

[IDontThinkSo]

Hi,
Me and my sister will get around 30-35 Lakhs as nominees for settlement of my deceased father's account.
Could you all please suggest the best way to utilise/invest the amount?
I haven't handled such huge sum of money and would like to know what would be the best options for me and sister.
Any guidance/help would be appreciated.

Do an FD for the time being of 6 months or a year and learn about investing in the meantime.
This way you will still get some interest and get to know what to do with it.

Some like to invest in real estate, some in FD, some in Mutual fund and others dive in to stocks and other things.
There are many resources to learn and everyone's style of investing is different based on their appetite, understanding and place.
Know your style.

 

[hender]

Hi,
Me and my sister will get around 30-35 Lakhs as nominees for settlement of my deceased father's account.
Could you all please suggest the best way to utilise/invest the amount?
I haven't handled such huge sum of money and would like to know what would be the best options for me and sister.
Any guidance/help would be appreciated.

This is the first step you took, awareness and options. I appreciate that.

Do an FD for the time being of 6 months or a year and learn about investing in the meantime.
This way you will still get some interest and get to know what to do with it.

Some like to invest in real estate, some in FD, some in Mutual fund and others dive in to stocks and other things.
There are many resources to learn and everyone's style of investing is different based on their appetite, understanding and place.
Know your style.

+1, Till the time you better understand Financial World and what suits you most.

 

[Tejo]

I hope you should not blindly invest only on equity

Consider for liquid, gold, silver, bond funds too

Small amount on fd too, for emergencies

 

[azura]

I hope you should not blindly invest only on equity

Consider for liquid, gold, silver, bond funds too

Small amount on fd too, for emergencies

Which platforms do you recommend for starting investments?MF's? Paytm Money and Black by cleartax are the ones that I know of.

 

[Tejo]

Which platforms do you recommend for starting investments?MF's? Paytm Money and Black by cleartax are the ones that I know of.

If you wish to invest in stocks directly buy the stocks via paytm money

For liquid, commodities, index/category funds prefer etfs

If you wish to invest in mutual funds better to avoid paytm as mutual fund units will stored in demat form

Just take care of expense ratio of fund house, try to avoid mutual fund

Also try to focus on option selling as nowdays, returns are not like in the past

Rather than on ipo's focus on buyback, bonus, dividend things

 

[azura]

This is the first step you took, awareness and options. I appreciate that.

+1, Till the time you better understand Financial World and what suits you most.

Till I figure out my options for investment, where should I keep the money? Should I do FDs in sbi only?
Should I open account in other banks?
Which banks would be the best for FD's or for keeping such huge amount of money?

 

[theflash]

Till I figure out my options for investment, where should I keep the money? Should I do FDs in sbi only?
Should I open account in other banks?
Which banks would be the best for FD's or for keeping such huge amount of money?

You can find some hni banking where they provide hni acct basis of fds. That could benefit with premium account and FD being invested. Just a suggestion!

 

[theflash]

Till I figure out my options for investment, where should I keep the money? Should I do FDs in sbi only?
Should I open account in other banks?
Which banks would be the best for FD's or for keeping such huge amount of money?

Also if you want to contact a CFA/CFP I can provide you contact details (not sure if this is allowed here if not kindly delete.)

 

[sousnake]

Till I figure out my options for investment, where should I keep the money? Should I do FDs in sbi only?
Should I open account in other banks?
Which banks would be the best for FD's or for keeping such huge amount of money?

Try to split up in couple of banks.
HDFC - 5L - 7.35%
ICICI - 5L - 7.25% or SBI - 5L - 7%
IDFC - 4L - 7.9