Where to park money for short period?

[rp0703]

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?

 

[kkk]

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?

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.

 

[Slayer]

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.

+1

 

[Wealth is my birth right!]

AU better just park in savings account, every month 1st day interest credit happens

 

[rp0703]

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.

For how long have you been using 12% club or mobikwik? Did you face any issue in either of them?

 

[rp0703]

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.

 

[Slayer]

For how long have you been using 12% club or mobikwik? Did you face any issue in either of them?

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.

 

[kkk]

For how long have you been using 12% club or mobikwik? Did you face any issue in either of them?

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.

 

[Wealth is my birth right!]

AU is just 3.5 upto 99,999 and 5% upto 9,99,999.

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)

 

[kkk]

AU is just 3.5 upto 99,999 and 5% upto 9,99,999.

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 🙂

 

[Wealth is my birth right!]

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?

 

[kkk]

Invoice disc i had small experience with Future Retail Limited where do u used to do?

I started with TradeCred platform last year. Now I have switched to Jiraaf. No default so far. Have received 12-15% return on time.

 

[Wealth is my birth right!]

I started with TradeCred platform last year. Now I have switched to Jiraaf. No default so far. Have received 12-15% return on time.

good to hear...will try Jiraaf its new to me

 

[Slayer]

good to hear...will try Jiraaf its new to me

+1

 

[kkk]

good to hear...will try Jiraaf its new to me

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.

 

[Slayer]

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.

Doesn't 12% club give more return than TradeCred/Jiraaf??

 

[kkk]

Doesn't 12% club give more return than TradeCred/Jiraaf??

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.

 

[kkk]

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.

May be we can start a separate another thread where we can discuss how we diversify our investment. I invest in P2P(12 %, Mobik Xtra+), Invoice discounting, Mutual fund, Equity(Both Indian and US stock market), SGB(Gold bonds backed by RBI) and FD.

 

[Wealth is my birth right!]

May be we can start a separate another thread where we can discuss how we diversify our investment. I invest in P2P(12 %, Mobik Xtra+), Invoice discounting, Mutual fund, Equity(Both Indian and US stock market), SGB(Gold bonds backed by RBI) and FD.

hope u've some share in NPS, PPF, etc for long run

 

[kkk]

hope u've some share in NPS, PPF, etc for long run

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.