It’s been two months I am seriously looking for investment options around me. I am no more satisfied with the 3.5 % that I get if I stash it in a savings account in a bank. If we are looking at an inflation rate of 8% +, we need to talk about some serious number about investments.
Firstly I started with moving my current savings to a Fixed deposit where I could get maximum returns in a short amount of time. My dad informed me about a Co-operative society where they would give 8.5 % for 3 months. This looked like a good deal. So there goes my money. Other options included Fixed Deposits in SBI/ Dhanalakshmi Bank etc. Most banks these days offer pretty decent amount of returns(9 % +) for term deposits.
Mutual Funds
Secondly, I was thinking about Mutual funds and today I was doing some homework on that.
I started with Mutual Funds India. This site has details on various mutual funds, their growth etc. The section about Mutual funds was also interesting.
I learned about Tax Savings scheme here.
Next to get a listing of top players in various industries, check out India infoline’s mutual fund section
To buy mutual funds online, check out this page, where you could get listing of several popular online mutual fund offerings.