What you want may not be what you really need. Be very careful about what you ask for, for you might get it, only to find out that you ended up with a pile of gold while all you needed to be happy was a bagfull.
“Sweep-in” accounts or any of its variants offer the returns of a fixed deposit while providing the flexibility/liquidity of a savings accounts. It’s like a hybrid that provides the best of both worlds.
The money you deposit into the bank account is broken up into chunks and the chunks are then converted to fixed deposits. Whenever a withdrawal request is made, depending upon the ask, one or more chunks of FD’s are broken and transferred back to the account. Simple.
So, if you are looking for a place to stash your cash, it doesn’t get any better than this.
Arun Shourie, Member of Parliament
The best advice I got with regard to money was from my wife Anita, soon after we got married. She said, “We must learn to be content with enough. And ‘enough’ is whatever we have at the time.” In terms of specific investments, land has been the most lucrative bet of all.