photo by pshutterbug

Imagine if you had Rs 100,000 and had the full freedom to decide where to park (invest) it — where would you put it? Rewind — last quarter of 2007, no doubt it would’ve been the stock market calling your money. But hey, considering the bearish sentiments in the stock market today you’ve got to carefully evaluate your investment decisions.

Here’s how you could look at investing the amount:

CASH IS KING

With the inflation rate at 12.40% (approx as on Aug 28, 2008) you’re gonna have higher outflows in your monthly home budget. Make sure you have about 3-6 months of your living expenses set aside in either:

(1) A savings account that’s linked to a fixed deposit. This ensures you enjoy a slightly high rate of interest (as compared to a normal savings account) along with the liquidity of a Savings Account. And hey, you don’t even pay any penalty to access your funds which otherwise is the case when you access your funds in a normal Fixed Deposit account. [Read more]

If you enjoyed this post, make sure you subscribe to my RSS feed!

Your neighborhood ATM could soon boast several value additions to ease the banking chores. Some of these features have been launched on a trial basis, while others are used abroad and could soon find their way to India. Here are those features:

Instant Cheque Deposit

The cheque truncation solution, currently in place in most leading banks in the NCR, cuts short the time required to process a cheque. When this facility is shifted to ATMs, you can have the cheque scanned and the amount will be credited ‘instantly’ to your account and you will also get a copy of the cheque for your records. Wow, how cool is that?  Faster than NEFT / RTGS …! [Read more]

If you enjoyed this post, make sure you subscribe to my RSS feed!