हिंदी में यह आलेख देखने के लिए, यहां क्लिक करें
I have been advising my investor friends to let their Idle money generate healthy returns for them during uncertainty period. Many of them are paying heed to my advice while many keep on thinking and loosing on some handsome returns in short duration.
Many a times, we leave a big amount in our Savings account for some purpose, but the purpose takes uncertain duration to materialize, resulting in loss in returns. Let us understand it by a real example some of my friends are facing now a days.
A friend was finalizing a real estate property around 8 months back and so he accumulated around Rs 12 Lakhs in Saving account so that he can use the money immediately and does not loose on the property when the deal is finalized. It is already 8 months gone and still the negotiations are going on and the money is waiting in Savings account. Let us see what my friend is loosing.
As savings account gives 3.25% simple annualised returns, my friend is getting Rs 3250 as interest per month (12 L x 3.25% /12). In 8 months, interest generated so for is Rs 26,000 (=3250 x 8).
One should consider deploying his/her money in Debt Mutual Fund for short duration, even for as low as a week. Debt Mutual funds generally provide 7-9% of compounding annualised returns, money can be withdrawn any time and best part is that there is no transaction charges on Debt fund transaction, even if withdrawn after a week of investment (earlier, there was no transaction charge on withdrawing money even after one day, but recently SEBI imposed transaction charges from 0.007% to 0.001% for withdrawal between 1 to 7 days of investment).
Let us see what my friend is loosing.
I was recommending a debt fund to my friend that is generating 9%+ returns for last one year. This means, monthly returns of Rs 9,000 (or weekly returns of Rs 2,100). In 8 months, the returns comes to Rs 72,000; i.e difference of Rs 46,000 over Savings account in 8 months. The bad part is that my friend is keeping his money idle in Savings account expecting every week that deal will be finalized during the week and loosing more that Rs 1300 per week in returns.
Learnings: One must seriously think about deploying idle money in Debt Mutual Fund, than keeping money in Savings account. Every penny matters.
(Disclaimer- This is real story but such things keep on happening with a lot of people)
Happy Investing. Click HERE to start your paperless investment today.