Advice for investment

randombytes2025:

I want to start investing in two FDs for Rs 30 lakh in total

Absolutely great idea to park money in FDs. This should be the foundation for investment. With regard to placing it in two deposit. I would rather spread it to three or more as you never know when emergency may creep in. In such scenario, you could break one smaller value FD leaving the others. Only you will know how you wish to spread the amount.

As small finance Bank relatively offer higher interest rate, you could park 5 lakh each in such bank (but note these banks should be listed and should be covered by DICGC)

Look at your tax liability and if needed you can put money in your wife name so that tax liability gets spread and accordingly sign the 15G form so no TDS is deducted. Do note to put nominee.

You need to have FD in your portfolio. This is a must. How much and How little is upto you. Also consider a small amount as RD for your lil one. You will be surprised at the amount on maturity - of course RD should be in wife name - wonder if they open account for infant.

All the very best. Feels nice when someone out there thinks of FDs.

Disclaimer: The above are my personal choices so please do your own diligence.