Where should I invest for 2-3 years?

I have put an amount of three lakh rupees in FD for three years. I am looking to invest another three lakh rupees for a tenure of two to three years. I am a low to medium risk taker. Please suggest possible investment options.
-- Pratichee Acharya

Jitendra Solanki, founder, JS Financial Advisors responds:

For two to three years horizon, short term debt mutual funds will be good option. These funds invest in short term securities such that portfolio duration is between one and three years. They do not have high interest rate risk associated with them. You can consider HDFC Short Term Debt Fund and ICICI Prudential Short Term Fund for your investment.