Ask ET Mutual Funds: Which MFs to create a corpus for buying a home?

I am 22 years old and have been working in an MNC from the past 3 months. I want to start a montly SIP of Rs 5,000. I can increase the amount to Rs 7,000. I want to purchase a house in next six to seven years. Which mutual funds should I invest?
-- Akshay Shetty

Subhash Chawan, Managing Partner, Moat Wealth Advisors:

It is good to know that you have decided to save for your house very early. Since your goal is 5-7 years away, you should start an SIP in a mix of balanced and diversified equity funds. You can look at Birla Sun Life Balanced 95 Fund, Kotak Select Focus Fund and L&T India Value Fund. Try to increase the monthly amount every year with increase in your salary.

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