Usha liquidity and high returns are generally mutually exclusive. If you want high liquidity then you won't get high returns and vice-versa generally. Unless you are a day-trader which is a very risky business. If you say you can invest 60% of your 14K that comes to approx 8.5K every month. Now if you want to invest every month out of your salary then the best thing would be to opt for some SIP of some mutual fund. And yes you better opt for different types of schemes even for the SIPs. You could put some money in short-term debt funds (also called cash-funds) this provides you with high liquidity for some part of tour investment. Then opt for some growth fund for some part of your money. And yes now with the interest regime looking to go only one way - i.e. up don't go for long term debt schemes. Also if you consider Balanced Funds see whether their investment mandate allows them to park most of their funds on short tenure instruments, otherwise if a Balanced Fund's mandate requires them to park a lot of their funds on long term papers, then that fund is not going to perform well comparativey.
