GOAL: The first step is to determine your financial goal (reminder: not a mere wish, but a SMART goal). This will determine the type of debt fund in which you might invest your money.
RISK PROFILE: Shortlist the best debt plan(s) by assessing your risk profile. Some investors may want guaranteed returns so they invest in securities with a high credit rating while others might want higher returns by bearing higher risk.
TIME HORIZON: Finally, identify the time horizon for which you would like to invest, which is linked to the SMART goal.