Since time immemorial, we have fallen for the pitfalls of the traditional banking system – savings bank account give us flexibility, but low interest and FD gives us high interest, but no flexibility.
Mrs. Savita Gupta lives in Lucknow. Working as a primary school teacher in a government school, she receives a salary of Rs 20,000 a month. She has two children, a son and a daughter, who attend the same school where she teaches.
Keeping the household afloat with Rs 20,000 becomes a challenge for Mrs Gupta, so she puts her money in a Savings Bank (SB) account for the extra 4% interest. But that adds little to her savings.
One day, while coming back from school, her neighbour told her about Fixed Deposits (FDs) – a system which would allow Mrs. Gupta to save her money and also get double the interest of a savings bank account.
But FDs came with strings attached. It meant keeping her money locked in the bank for a specific tenure like 6 months or even years and any withdrawal before the maturity date implied deduction of a penalty amount.
There are thousands of women in India like Mrs. Gupta who are either forced to accept the meagre 4% interest that most saving bank accounts offer or lock their money in fixed deposits.
Somewhere in India, another bank account holder, Mr. Sharma, is also in a monetary fix since the government’s demonetisation move last year. The profits of his business have been plunging, forcing him to transfer his money from an FD to a savings bank account; but the low-interest rate bothers him. Plus, he has to maintain a minimum balance in his account or else the bank penalises him.
No system rightly rewards our hard-earned money…or does it?
What is there is a system that gave us the chance to earn returns equivalent to the interest of an FD with the flexibility similar to a savings bank account?
What if you had the option to #UnfixYourMoney?
The DSP BlackRock Money Manager Fund aims to gives you exactly this, and much more.
It aims to bring to you the best of both worlds – the advantage of anytime money redemption gives you liquidity akin to your savings bank account, plus a chance to earn decent returns. To put things in perspective, this fund has given 7.6%* return since inception, although past returns aren’t a guarantee of future performance. And you can withdraw the entire amount without worrying about any penalty.
With moderately low risk, you have the advantage of controlling your money. It’s like carrying an ATM in your pocket – redeem or transfer money with just a click on your smartphone.
When it comes to your money, why settle for less? Choose wisely.
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully. *CAGR since inception till December 30, 2016, for regular plan growth option. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments. For detailed disclaimer, performance in SEBI prescribed format & product labeling, click here.