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.
Check out an app called Curie. Good for upto 1 lac. It parks in regular liquid funds and allows instant withdrawal of 90% amount while other 10% is withdrawn in T+1 time period. I personally park rents and other expenses that i need to keep liquid, keeping my savings account to absolute minimum.
check listed small finance bank who offer tiered rates.