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Are overnight funds suitable as an emergency fund?

Overnight funds are a type of debt fund that matures the next day.

The priority question should be whether you should invest here or not.

 Overnight fund is one of the highly liquid financial instrument.

In overnight funds, you hold your debt instrument only for a night, it will mature the next day. 

Overnight mutual funds are said to be the safest kind of mutual fund in the industry.

You can earn a 3% to 5% annualised rate of return in overnight funds.

In addition to all these, overnight funds are affordable to manage. 

You can redeem the units of your overnight funds during trading hours.

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Are overnight funds suitable as an emergency fund?

Investing emergency funds might still be a question mark for you as saving bank accounts are giving insufficient returns.

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