How to use my Amazon Pay balance?
-
Hi
I have around Rs. 25,000 after selling some electronic items in my amazon pay balance. I am living in a very small town in a Tier 3 city. Still, some shops here do not accept any digital payments; they still deal in cash only. So suggest to me where I can use this money more efficiently.
Can I invest this money in mutual funds in one single go, as maybe I will not be able to invest this much money every month? Or should I use this money somewhere else? I don't want to purchase anything right now.
-
If you don't need cash immediately, then it's better to put all the money in mutual funds. Trust me, it's a wise decision. For stable and steady growth, you could consider a balanced fund or a large-cap fund. The risk factor is very low in these types of mutual funds.
If you want flexibility, you can transfer this money to your savings account to earn the interest, or you could just put in a short-term fixed deposit.