I am 24 and I work in an information technology company. I plan to get married in the next 5 years, for which I want to save Rs10-15 lakh. I can save up to Rs15,000 per month now. Please suggest some schemes to invest in. I want the returns to be tax exempt.
—Aanya Dange
If you invest Rs15,000 every month for the next 5 years, there is a very good chance that you will have a corpus that would be in excess of Rs10 lakh. Even assuming an annualized 10% return, you could have about Rs12 lakh in this period. Hence, I would recommend that you not take too much risk with your portfolio. A combination of hybrid funds and large-cap funds will get you there safely. I would recommend a monthly systematic investment plan (SIP) portfolio with four funds: a large-cap fund such as Franklin India Bluechip for Rs4,000, a couple of balanced funds like HDFC Balanced and Birla Sun life Balanced ’95 for Rs3,000 each, and a short-term debt fund such as HDFC Regular Savings for Rs5,000. Such a balanced portfolio with measured risk quotient would see you through your investment horizon safely.
