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Best Emergency Mutual Fund | Innvest

As the name implies, an emergency mutual fund is a buffer set up to deal with unexpected emergencies that may arise and put a strain on your monthly cash flow. In the absence of this corpus, you may be forced to rely on credit cards (annual interest rates as high as 40% – 47%), personal loans (interest rates as high as 15% per annum plus processing fee), or other costly borrowing options that will burn a bigger hole in your pocket. You do not need to create a new emergency fund if you already have a large portion of your savings parked in a savings bank account or fixed deposit. You can simply divide the corpus into suggestions.

Posted By : pooja // in Insurance