Q: Please tell me how can i earn i% per month or 3% per 3 month investing Rs 1540000. I don’t have any monthly income
A: Thank you for writing to us. You have not given full details such as your risk profile, time horizon for investment. To earn 1% p.m or 12 % p.a. In the current economic situation, you can look at company fixed deposits which offer interest rate of upto 12.86 % for cumulative and upto 11.5% for non-cumulative deposits of 24 months tenure and upto 14.36% for cumulative and upto 12% for non-cumulative deposits for 36 months tenure. However, they are risky compared to bank deposits. For safer investment you can try Post Office schemes and bank deposits but the interest rates are lower than 1 % pm currently. Both the above investments attract TDS. Also since interest rates may be going up in the near term, locking your money at prevailing interest rates for longer time may not be such a good idea.
From Your Expert @ InvestmentYogi