Park funds with immediate withdrawal option?

the savings account in my government bank just gives 2.5% return , whereas any debt mutual funds / liquid funds takes t+1 days to settle and withdraw.

So any option which gives a higher return and provides instant liquidity as well ?

i’m wanting to park about 5 lakhs and could require to withdraw 1 or 2 lakhs at any time.

Sweep-in FD will do the job for you

i think it has pre-withdrawal penalty and also interest rate for short tenures is lower than savings account.