Where should I invest for short and long term Anuj, 08 Nov 2012

I have 10 lakhs in my saving account. I would like to use it for investments. 3 lacs for short term needs and 7 for long term. Suggest where should I invest for respective time periods.Thanks :)

Fintotal Answer

For long term needs accruing after 5 years you can invest in one of these funds- ICICI Pru Focussed Bluechip Equity, HDFC Equity,   UTI Opportunities, Canara Robeco Equity Diversified. Start a monthly SIP in one of these funds and check its performance once a year. For needs accruing between 3-5 years you can invest in the top balanced mutual funds, like HDFC Prudence or HDFC Balanced through SIP. For needs accruing in less than 3 years you can invest in one of the top debt funds, like SBI Bond or just stick to a plain FD since rates are high.

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