In which fund category, should I park my emergency corpus?
- Santosh
There exists a hierarchy of emergency money. If you have old parents and young children, then put somewhere around Rs 20,000 in your locker, which will be the first level. In the second level, keep some amount, say between Rs 15,000 and Rs 20,000, in your bank account, which is easily accessible using an ATM card. Then comes the third level for which, you can well invest in ultra-short-duration or short-duration funds where you can get your money within a day or two.
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