I am 20-years old, working in SBI as a clerk. My monthly income is around Rs 7,000, out of which I can save Rs 2,000. I want to buy a bike (around Rs 70,000) as fast as possible. I can go for a moderate risk equity diversified fund. What fund should I choose? How should I apply for it?
- K Singh
Since it appears to be your very first investment and you want a moderately risky diversified fund, we suggest you start with a balanced fund. DSPBR Balanced, HDFC Prudence and FT India Balanced are three good options.
Start by investing Rs 2,000 every month in your scheme, in other words, a systematic investment plan (SIP). You can directly approach the offices of the fund house you select. Alternatively, you could approach your bank or any other mutual fund distributor.