Which funds should I invest for short term and long term needs

As your requirement is to save for short term and long term investment needs through monthly SIPs, following can be suggested to you -

1. For saving regularly for your short term needs (assumption 1-3 years) you can invest in short term funds. Kotak Flexi Debt Fund, ICICI Prudential Banking and PSU Debt and UTI Banking and PSU Debt Funds could be good choices.

2. For long term needs (5 years and above) you can invest in equity mutual funds. Equity large cap funds and diversified equity funds can be ideal choice. From large cap category, you can invest in SBI Bluechip Fund, Birla Sun Life Frontline Equity Fund and Kotak Select Focus Fund. From diversified fund category, you can consider investing in Birla Sun Life Equity Fund, SBI Magnum Multi-cap Fund and DSP BlackRock Opportunities Fund.

Hope you find the above useful.

Thanks for writing to Advisorkhoj.