Need advice on MF

Hi,
I want to invest 6k per month from this month to pay school fees for my children next May month..Any suggestion on mutual funds?

Last year saved the money in recurring deposit and got the money..

Is there any better suggestion other than RD

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Equity MFs are meant for 5-10 years.In short term you may be in for shock if bear market sets in.
You should go for either bank FD or liquid funds.

 

I will suggest for debt fund.... Franklin low duration fund

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Will we get better return than RD ..i there any charge if we close within one year

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I think that it should provide better than that of RD, but please do your work and take a decision. In 2017 it gave more than 9% per annum. charge is 0.5% for redemption within 90 days