The life insurance companies in India offer some very good annuity plans where you can invest for a period of time and then receive monthly payouts after your retirement. This is a good and very handy Monthly Income Plan(MIP) available to the seniors that offer monthly payouts. This is a special scheme only available to the senior citizens of India. If you are of 60 years of age or more, you can opt for another post office saving scheme - the Senior Citizen Savings Scheme. You can withdraw the dividends from time to time and that can work as a regular income. This is a decent interest rate and you get steady yields. An interest rate of 7.6% was available in January 2020. Make monthly deposits and receive fixed returns. You can start investing in this scheme by visiting your local post office. If you too have a zero-risk tolerance, then consider investing in the Post Office Monthly Income Scheme. Many people dislike taking risks with their investments. Just do some research and invest with a reliable company and you won't face too many issues. Also, you need to be careful when selecting the NBFC as fraudulent funds are not unusual in this sector. The returns earned may take slightly longer to reach you. There are a few points to remember here though. If you opt for these funds, you may successfully be able to set up a monthly income option and get some extra finances for your day-to-day activities. Most of these FDs also have the option of the dividend payout at regular intervals.

The fixed deposits offered by the private companies and NBFCs are often available at a higher rate of interest. As a result, the returns earned are not too high. However, the regular fixed deposits offered by the banks have a low rate of interest. Non-banking Finance Company (NBFC) Fixed Depositįixed deposits are very common and popular modes of investments that many people rely upon.These monthly income investments are good options for wealth creation and help you in various ways. At times, the income received from the monthly income plans come in handy even when the investor is still employed and earning a regular salary. It is absolutely crucial for everyone to build up funds from where they can receive monthly incomes during their post-retirement years.

Hdfc monthly income plan fixed deposit