BusinessWhere to Keep Emergency Funds: Savings Account or FD? Expert Advice
An emergency fund is meant for immediate use during sudden financial needs, not for high returns. Experts suggest dividing the fund into parts: keep instantly needed money in a savings account or sweep-in FD, and consider liquid or short-term debt funds for money needed later. Fixed deposits offer fixed returns but may have penalties for early withdrawal, so choosing the right option depends on your needs.
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