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Where to invest Rs. 10000 for 3 years

I am student and I wanted to invest Rs. 10000 in mutual fund for a lock in period of 3 years. I am confused about where I have to invest in close ended fund or open ended or in a hybrid fund? I want to invest for 3 years because I have to use money for loan repayment. So kindly suggest me. I already started my SIP for Rs. 2000 in Franklin High Growth Fund. Suggest me another SIP also I want to start new SIP for Rs. 1000?

Aug 31, 2016 by Sonal, Pune  |   Mutual Fund

Glad to note that while studying you have started investing in mutual funds. If you continue to do this, you will get the benefit of starting early by compounding your returns for a very longer period of time.

If you want to invest in mutual funds for 3 years or more then you should always invest in open ended funds. There is no need to go for close ended funds. Also, for an investment horizon of 3 years you can either invest in debt funds or hybrid debt oriented funds (MIPs). Investing in equity oriented mutual funds are good if your investment horizon is more than 3 years. It is better if the horizon is 5 years atleast.

You may select good performing debt funds https://www.advisorkhoj.com/mutual-funds... and MIPs https://www.advisorkhoj.com/mutual-funds... from here

Your selection of Franklin India High Growth Fund for SIP is very good. Instead of starting another SIP of Rs. 1,000, you may add in your existing SIP fund.

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