Which mutual funds are ideal to park my FD money?

Can you please suggest me some alternatives to fixed deposits? I want to invest for a short term and want stable returns. I have some money in fixed deposits. I want to move it to other investment options. However, I would want to access or liquidate the money in the short term, say, in one year.
-- Saurabh Sarkar

Since you have an investment horizon of a year, you may consider investing in debt mutual funds. These mutual funds are a bit riskier than bank deposits, but they may also offer marginally higher returns. If you want to take very little risk and avoid much volatility, you may opt for ultra short duration funds. As per Sebi categorisation, these schemes would invest in instruments with a Macaulay duration of three to six months. If you are ready to take a little risk, you may consider investing in low duration funds. These schemes invest in instruments with a duration of six to 12 months. They are relatively less volatile than other debt schemes.