Some financial planners are recommending equity savings fund as an alternative to fixed deposits above a year. According to these planners, investors who can afford to take a little extra risk can invest in Equity Savings funds to earn extra tax-efficient returns.
"I have seen many investors who put their surplus money in fixed deposits," says Chokkaingam Palaniappan, chief financial planner, Prakala Wealth Management. "You should park the funds in an equity savings fund instead of a fixed deposit if you need the funds after a year," adds Palaniappan.
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