Sent: Sun, 17 Aug 2008 09:46:46 +0530 (IST)
Subject: Please suggest me .
SRIKANTH SHANKAR MATRUBAI' reply :::::
Hi, nice to see your mail again.
Actually, with your savings of 24-25k per month, it should not be very difficult to achieve 10L by end of 3 years.
24000 * 12 = 2,88.000
2,88.000 * 3years = 8,64,000
Even if you keep in FD@ 8%, your investment will get you 9.75.000. so, you will have absoultely no problem in achieving your 10Lakhs.
If you invest in "SAFE" Funds, like Arbitrage Fund, MIP funds, you will get (on an average) around 10% post tax, so your investment of 24000 for 36 months, should get you about 1004000. which is your target amount.
I would suggest you to invest in FMPs, a bit, (FMPs nowadays assure you 10.5%), but go for Arbitrage funds, you will achieve your target very easily. I would have preferred you to invest in Large Cap Funds and also Balanced Funds, but maybe you prefer "safe", so I am going for Arbitrage Funds. Otherwise, you could go for Large Cap Funds (Birla Sunlife Frontline Equity / HDFC Top 200 / Sundaram Select Focus / DSPML Top 100), with Dividend Payout Option, And whatever Dividend you get, you could shift to Arbitrage Funds and also keep booking Profit at regular intervals and shift the amount to Arbitrage Funds.
Best of luck,
srikanth shankar matrubai