List of 8 Best Monthly Income Investment Plans in India for 2021
Nowadays, different types of investment options are available in India, enabling people to generate high returns. Moreover, they provide methods to increase the cash flow that will help gain financial freedom in life. Therefore, it is imperative to know the investment options available in the markets that give ways to make the right decision. Not only that, they allow people to invest money based on their choices. The investment plans involve various types allowing retirees to ensure a steady income. However, they should know the eligibility and other things in detail before choosing them.
A monthly income plan, shortly known as MIP, is suitable for individuals to receive a certain sum of money every month. The MIPs work on mutual fund principles enabling investors to get guaranteed income that will help accomplish goals in financial planning. Apart from mutual fund companies, insurance companies will also offer them insurance coverage to protect them. On the other hand, they are slightly different from investment plans offered by mutual fund firms. Some of them provide a provision for a lump sum benefit, although they are non-insurance products.
List of 8 Best Monthly Income Investment Plans in India for 2021
- SBI Debt Hybrid Fund
- UTI Regular Savings Fund
- DSP Regular Savings Fund
- SBI Multi-Asset Allocation Fund
- Kotak Debt Hybrid Fund
- IDFC Regular Savings Fund
- ICICI Prudential Regular Savings Fund
- Sundaram Debt-Oriented Hybrid Fund
1. SBI Debt Hybrid Fund
SBI debt hybrid fund is a monthly investment plan meant for individuals who want to generate high returns. It involves money in debt, money market, equity, and equity-related instruments. The plan aims at providing regular income to investors that show methods to accumulate wealth over a long period. Not only that, it makes feasible ways to ensure high capital growth significantly with low to moderate risks. The plan invests 25% money in equity and the remaining 75% in other instruments.
2. UTI Regular Savings Fund
UTI is one of India’s leading mutual fund companies that offers a wide range of plans for investors. The UTI regular savings fund is a monthly income plan which doesn’t come with a lock-in period that involves a mix of both equity and debt instruments. Investors can redeem the units at any time after 12 months. The fund has an exposure of 25% equity and 75% debt instruments with low to moderate-high risks. Investors who want to get regular income along with long-term appreciation can choose this plan to ensure more returns.
3. DSP Regular Savings Fund
DSP regular savings fund is the best monthly income investment plan available in India that provides ways to generate capital appreciation in investments. It is a low-risk option profile available for investors that give ways to obtain optimal results. The scheme invests money in quality debt securities and other instruments that will help generate high returns.
4. SBI Multi-Asset Allocation Fund
SBI Multi Asset Allocation fund enables investors to balance their portfolios accordingly that gives ways to generate more returns. The primary objective of this plan is to manage multiple asset classes such as debt instruments, gold-related instruments, and equity-related instruments. It is the best investment with monthly returns enabling investors to gain a regular investment on investment. The plan has a mix of commodity, debt, and equality instruments to generate a regular income every month.
5. Kotak Debt Hybrid Fund
Kotak Debt Hybrid fund allows investors to generate consistent returns by making investments in debt instruments. It is a combination of high credit funds and money market instruments, thereby showing methods to get the desired outcomes. The debt portion of this plan provides a steady stream of income to investors. Apart from that, it helps boost returns based on inflation over the long term. The fund has nearly 24% of equity allocation and 56% of debt instruments.
6. IDFC Regular Savings Fund
IDFC regular savings fund is ideal for investors who want to start with a minimum investment of Rs. 5000. The plan has a combination of 24% equity instruments and 50% of debt instruments, thereby helping to earn high returns. It is the best monthly income plan in India with low and moderate risks. The fund will invest its equity portion in various sectors enabling investors to get the best returns.
7. ICICI Prudential Regular Savings Fund
ICICI Prudential is one of India’s leading private insurance companies that provides a wide range of investment options for investors. The fund is a combination of 13 % equity instruments and 77% debt instruments with low risks. It is suitable for mid-term and long-term investments that will help generate high returns.
8. Sundaram Debt-Oriented Hybrid Fund
Sundaram debt-oriented hybrid fund is the right option for investors who want to ensure a regular income. It performs well in investment markets with a combination of 24% equity instruments and 68 % of debt instruments. In addition, the plan provides a capital growth benefit for the long term by addressing the needs of investors when they want to earn more money.
Things to consider while purchasing a monthly investment plan
Investors should set their goals when they want to buy a monthly investment plan in the markets. First, they should define their goals clearly, which gives ways to select a monthly saving and investment plan based on the choices. The next thing is to balance between rewards and risks that provide ways to proceed further. Liquidity is another factor to keep in mind while purchasing a monthly investment plan. Many companies offer tax deductions for investors, and they can evaluate them before buying a policy.
Investors should check the features and profiles of plans with more attention while buying a plan. The investment plans should cater to their current lifestyle that will help them earn a high income. They should also assess the performance of plans before investing money. An investor should also consult with investment experts when it comes to MIPs. This, in turn, gives ways to select a plan which suits the requirements of a person. It is wise to read the reviews and ratings of funds online while purchasing a plan. Also, investors can ensure a fixed monthly income that provides ways to maximize high returns and income.