Monthly Income Plans (MIP): Have You Assured Your Monthly Income?

Do you want to earn more return than the fixed deposits? And don’t you want to compromise with the safety of the Principal? Well, than Monthly Income Plans are the best options for you. Let me first explain you that How Monthly Income plans Work?

Monthly Income Plans or MIPs are mutual fund schemes which invest most part of the corpus in debt instruments so as to make good the investment objective of monthly (regular) income to the investors.

To achieve their investment objective of providing monthly income, MIPs have an option to invest some portion of the corpus in equities (5% - 30%) and the balance in debt and money market instruments.

Here are the 2 Best Monthly Income Plans in India that you can invest in.

01) Birla MIP II Savings 5

02) HDFC MIP Long Term

Both of the above plans have a proven past record of good performance of more than 5 years. The main advantage of MIPs is that they provide a regular monthly Income. However, as the name suggests, it is not compulsory that they will give you monthly returns by sure shot.

But most of the time they give you the monthly Income. I think Investment in MIPs having such a nice past record is a good idea.