Widely read:
Can you suggest any fund to increase my emergency corpus?
- Aditya
In the spectrum of mutual funds, your emergency corpus should be invested in liquid funds at most, period. An emergency fund can have multiple tiers. The first stage is to have a small part of your emergency fund in the locker if you have children. Second is to have some money in the bank account that is accessible from an ATM. Then, you may have a credit card where some credit is available. Although it's not your money, that is the only credit card withdrawal that I suggest just in the case if you have exhausted the other two options.
Now, beyond that, the money should be in liquid funds. Maximising returns on your emergency fund should not be the primary goal. Rather, Your primary goal is that the money must be there and should be easily accessible whenever required. So, that should be the hierarchy or scheme of emergency funds.
This article was originally published on June 23, 2020.
Disclaimer: This content is for information only and should not be considered investment advice or a recommendation.
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