Tip : Invest only in direct plan (D) of any mutual fund. The returns would be higher as compare to regular plan :-)

I. Indian Equity

Fund Name Expected Returns (5y) Fund Class
UTI Nifty Index Growth Direct Plan 10% or more Nifty Index
UTI Nifty Next 50 Index Growth Direct Plan 10% or more Nifty Index Next 50
HDFC Index Nifty 50 Growth Direct Plan 10% or more Nifty Index Next 50
Parag Parikh Long Term Equity Fund 10% or more Diversified Equity
Equity mutual funds are more suitable for creating wealth over long term.
High Risk

II. Foreign Equity

Fund Name Expected Returns (5y) Fund Class
Motilal Oswal S&P 500 Index Fund 10% or more Foreign Equity (S&P 500)
Motilal Oswal Nasdaq 100 10% or more Foreign Equity (NASDAQ-100)
It's good to have some geographical diversification in your equity portfolio.
High Risk

III. Debt Funds

Fund Name Expected Returns (5y) Fund Class
Parag Parikh Liquid Fund (PPLF) 5.5% Liquid (Govt T. Bills)
Motilal Oswal Liquid Growth Direct Plan 5.5% Liquid (Govt T. Bills)
Quantum Liquid Fund 5.5% Liquid (Govt T. Bills)
HDFC Liquid Fund Growth 7.0% Liquid
Debt mutual funds are good alternative to fixed deposits. Use liquid funds, backed by T. bills, for highest degree of safety.
Low Risk

Notice : I do not receive any "payment" or "fee" for listing the funds above. It's solely based on my own understanding and a little bit of market research. And you should also understand that equity investments are for long term; use liquid funds to park money for short term duration(less than 5 years).