Have some surplus/idle funds in your savings account earning a petty interest of 3.5%? Transfer them NOW to Liquid Funds. Here’s why
Liquid funds invest in highly rated debt and money market instruments with a maturity of up to 91 days only, and offer returns in the range of 6-7% as compared to 3.5% in savings account.
Use our Spread feature available for Liquid Funds and see your money working for itself
Say, you get your salary on 1st of every month and you transfer about 70% of the amount to liquid funds. Now, how can you spend that money?
Very simple. Use the Spread feature available in Nivesh.com mobile app. This feature allows you to set an auto selling alert for your planned expenses. For example, your home EMI gets deducted on 10th of every month. You can set an auto selling alert for that amount and the amount will automatically get deducted from your liquid fund on that particular date.
This way, your idle funds will earn about 3% extra interest as compared to saving account in those 10 days. You can follow the same process for all your planned expenses.
Another interesting facility is the Instant Redemption feature available for investment in Aditya Birla Sun Life Liquid Fund
With this facility, you can transfer your surplus cash from savings account to Aditya Birla Sun Life Liquid Fund and earn higher interest without worrying about the liquidity as in case any contingency, you can instantly redeem Rs 50,000 or 90 % of the folio amount, whichever is lower, in liquid funds. The money gets transferred to your savings account within two-three minutes. So, you are able to earn higher interest by compromising your liquidity only for a few minutes.