Making a smart investment planning is very important to create wealth for the future and to achieve the financial objectives of life. The money invested in different financial schemes is done to generate returns and to earn a regular flow of income. Before planning any investments, it is very important to know the benefits associated with the various investments schemes.Read more
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There are wide ranges of investment plans which are specifically designed to cater to the various financial requirements of the investors. While investing, the investors need to focus on monthly returns to meet their short term financial needs along with the capital growth in the long-term.
In order to help you choose the best investment options, here we have discussed the best monthly income plans to invest in India.
In monthly income mutual funds, the investments are majorly made in debt instruments and the accumulated interest is distributed among investors periodically. As compared to equity investment, the monthly income plans tend to be less risky and is best suitable for investors who want to have a regular flow of income and who want to accumulate a fund for a short-term period.
Fixed deposit monthly income plan is an ideal option investment option for investors who want to earn fixed and regular income with the benefit of guaranteed returns at a specific rate of interest every month. Depending on the banks and scheme, the duration of these deposits can go up to 10 years. The investors can make premature withdrawals before maturity. The interest in these schemes is generally paid at a discounted rate for monthly pay-out fixed deposits.
This scheme is specifically designed for senior citizens to provide them with financial security after retirement. The Pradhan Mantri Vaya Vandana Yojana provides stable income to the senior citizens and offers fixed interest rates of 8%-8.30% per annum. This plan comes with a policy term of 10 years and as per the payment mode is chosen by the pensioner, the annuity is paid on monthly, quarterly, half-yearly and yearly basis at the end of the policy term.
This is a deposit scheme, which can be availed by individuals who have achieved the age of 60 years. Individuals with 55 years of age can also avail SCSS, provided they are retiring under any voluntary retirement scheme or superannuation. The Senior Citizen Savings Scheme offers a current interest rate of 8.7%, which is payable quarterly at the end of each quarter. One can start investing in the Post Office Senior Citizen Savings Scheme with a minimum investment of Rs.1000 and can invest up to maximum Rs.15 lakh. The investments made towards POSCSS are eligible for tax exemption under section 80C of IT Act.
Investment in stocks is a great investment option of monthly income. The main objective of the investors should be to invest in stocks, which pays regular returns over a period of time. However before investing, one should look for stocks that have paid regular dividends in the past. The dividends are paid as monthly income to the investors.
These are some of the investment options of monthly income that the investors can consider investing in. However, before making an investment decision, let’s take a look at the importance of the monthly income-generating scheme.
Before investing, it is very important to understand the benefits related to different investment options. A monthly income-generating scheme is the preferred choice of investment for investors who are reaching their retirement age or have already retired. With the help of monthly income scheme, a person can have a regular flow of income and can be financially secured even after the retirement. The individuals should make the investment decision based on their financial goals and risk appetite.
Despite the fact, that different individual has different financial requirements and has different investment making capacity; everyone wants to have a regular income generating option. Thus, it is very important to choose the right investment plan after considering one’s risk appetite and financial objectives in order to gain regular returns on investment.
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer. Tax benefit is subject to changes in tax laws. *Standard T&C Apply
Past 10 Year annualised returns as on 01-12-2023
^Tax benefit are for Investments made up to Rs.2.5 L/ yr and are subject to change as per tax laws.
*All savings are provided by the insurer as per the IRDAI approved insurance plan.
Tax benefit is subject to changes in tax laws. Standard T&C Apply
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