Hi, Welcome to Curioscoop, everyone wants to live a stress-free life as long as possible. For a comfortable life, everyone needs money, but to earn money lifelong work, a job is quite stressful. So everyone wants an early retirement and wants to have a stress-free life. After retirement, it is difficult to make a regular income, so it is better to invest some part of your earnings in some investment plans, it will give you regular income even after retirement. Here are some best investment plans for monthly income which give you a regular income.
Normally, everyone wants to secure some money for their children’s education and their future, even after retirement. If you are curious about, How to get a monthly income from investments in India? Here you can get the Best investment plans for monthly income. Before any unfortunate situation occurs, it is better to secure part of your earnings to stabilize your financial
List of Best investment plans for monthly income
So if you want to invest some part of your earnings for future benefit, here are some best plans for investment for regular income.
1. Government Bonds.
Government Bonds are one of the best low-risk investment options. It gives a fixed and regular return on investment. The maturity duration is from 5 to 40 years. It offers a stable interest rate to the investors, so it gives a regular income. Government Bond comes with a predefined maturity date. It gives security to investors by offering a fixed interest rate.
You can collate with other investments to attain maximum financial security. Some Government Bonds are Fixed Rate Bonds, Sovereign Gold Bonds, Floating Rate Bonds, Zero Coupon Bonds Etc.
2. Fixed Deposits.
Fixed deposits are also one of the best plans that come under low-risk investment options. Here you need to invest a certain amount of money for a fixed period. In that period you will earn interest on that investment. The rate of interest and minimum investment amount depends upon particular banks. The majority of the banks offer 5 to 6% of interest rates on fixed deposits, it depends upon the tenure of deposits, and also senior citizens get a higher rate.
The banks will offer nomination facilities to depositors that will help their families in the event of the death of the depositor.
3. Post Office Monthly Income Scheme.
If you want to invest in a zero-risk investment scheme, then this one is the best option for investors. This one is offered by Indian Post and also it is backed by the Indian Government so it is perfect for those investors who want to invest in the zero-risk investment scheme.
The annual rate of interest is about 6.6% and this scheme has a maturity period of 5 years. You can withdraw the money before its maturity period with a penalty.
4. Corporate Deposits.
Many Non-Banking Financial Companies (NBFC) as well as Housing Finance Companies offer Corporate Deposit schemes to raise money. These are similar to Bank Deposits but here you need to invest in corporate entities. Corporate entities offer a high rate of interest compared to bank rates.
Corporate Deposits offer a high-interest rate and also provide additional flexibility compared to banks, but here the risk is high, so before investing in Corporate Deposits you should for the financial strength and credibility of the NBFC (as per CRISIL standards).
Read: How to earn money online without investment for students
5. SWP from Mutual Funds
SWP, Systematic Withdrawal Plan is one of the best investment schemes offered by Mutual funds for steady monthly income. Nowadays mutual funds are hugely popular in India. In this scheme, you can specify a certain amount of money that you want to invest as a monthly payment.
Also before investing in this scheme as an investor you should know about the terms and conditions of the plans. Here you can use the calculator to understand returns and future value.
6. Senior Citizen Savings Scheme.
This scheme is exclusively meant for senior citizens, If your senior citizen, it is one of the best investment schemes for those who are worried about post-retirement income. Anyone above 60 ages can invest in this scheme. This scheme is offered by notified banks and post offices backed by the government.
The maturity period is 5 years. You must subscribe to this scheme within one month after retirement. This is a very low-risk and high-return scheme, also this one enables an individual to ensure financial protection after retirement.
7. Insurance Plans.
Insurance companies are also offering such investment schemes which enable regular incomes. These are life insurance plans that provide regular monthly predefined income to investors once the plan matured.
Insurance plans are a low-risk investment option that guarantees the investor’s family a regular income after your retirement.
Last Words
These are some best investment plans for monthly income. The above plans are selected based on their risk factors and some other factors which are best for investment. Also before investing in such plans should learn about the advantages and benefits of such plans. So these are some plans for investors to get regular incomes.
Before investing should consider some factors like the status of the market should consider, the rate of interest on investments, and risk factors also matter while selecting investment schemes, and mainly as an investor should know about your needs and requirements.
QnA
- Which investment is best for monthly income?
As mentioned above, here are some best plans for investments.
- Fixed Deposits.
- Senior Citizen Saving Scheme
- Government Bonds
- Corporate Deposits
- SWP from Mutual Funds
- Post Office Monthly Income Scheme
- Life Insurance Plans. etc.
2. Where can I invest 1000rs per month?
Many schemes offer a minimum investment of Rs. 1000. Post office, mutual funds some other investment schemes are available for those investors who want to invest a minimum of Rs. 1000 per month.