I move some of my intraday profit to long term equity investment. also Im looking to move 5% of daily trading profit to safe or low risk investments like RD, and amount will be vary everyday. i looked at fixed deposits, RD comes with fixed monthly amount and flexi deposit has maximum of 50,000 a year which is not enough. i dont like keeping it on savings acc as i might spend it on something, so is there any investment plan to use it as my piggy bank?
Invest into either a liquid fund or an overnight fund. Overnight funds are less risky as compared to liquid funds but the offer slightly lesser returns - 5-6%ish. Liquid funds average around 6-6.5%.
If you want instant liquidity then you can invest in Liquidbees. You can instantly sell them and use the proceeds to trade but you end up paying 29% DDT which makes the effective return 3.4%ish.
Liquid and overnight funds are taxed according to your income slab.