need advice for utilising money in mothers account

[invisible007]

My mother having account in canara bank and she has some amount of nearly 3-4 lakhs , it is her salary account .

Shall we keep account in bank or else move to some postOffice / MIS or somewhere else

pls advise me where shall i put the money so that my mother get the best benefits for her .

 

[SiddharthR]

For Short term (<1Y): T-Bills/FD
For Medium Term (1-3Y): Debt Funds
For Long term (>3Y): Equity Funds

 

[akshayhs]

Considering it's your mother, I wouldn't want to invest it anywhere. Maybe T-Bills are fine but never into equities.

At that age, choices should be conservative and mistakes cannot be made.

This is just my recommendation.

 

[shubham__0720]

My mother having account in canara bank and she has some amount of nearly 3-4 lakhs , it is her salary account .

Shall we keep account in bank or else move to some postOffice / MIS or somewhere else

pls advise me where shall i put the money so that my mother get the best benefits for her .

You can go with mobikwik xtra 12% , invest approx 1-1.5lakh in it depending on you,you will get approx 40-45rs per day ,its good for short term , and it also has anytime withdrawl function ,so if you need ,you can get back your money within 3-4 hrs

I am already investing in it from past 5-6 months,no issue till now ,all things work smoothly and UI is also good.

 

[Deleted member 6719]

FD rates are good. That is a safe bet. For long term, index funds, but that too when you have some of the total money in FD. IMO a mixed approach with growth and safety is good.

It's not your own money, so protecting wealth should be topmost priority. She's will forget even if you lose the money, but it is your responsibility to protect it.