Best Investment Plans For Monthly Income

Monthly income is a preferred choice for those individuals who are working professionals in any organizations or institutes etc. It is basically for the people who are close to retirement and is a mandatory requirement for the senior citizens who needs a fixed income after the retirement to secure their life from the income source and live a peaceful life. For all these individuals who don’t have stable employment and source for income as well and they need to think of their future. As a solution, we have come up with the best investment plans for monthly income which has certain higher interest rates so that you will get a good return as well. 

Monthly schemes don’t differ from any other regular Banks Fixed Deposit or post office deposits etc, these differ only in terms of risk factors by any chance. Let us check out some of the plans below that you should invest for your plan and make it secure:

  • Monthly Income Fixed Deposits Schemes:

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This plan is for those people who wish to earn a regular fixed income with a guaranteed return with certain interest rate every month. The monthly Income Fixed Deposits Schemes are an ideal option for individuals who seek a long term duration up to 10 years depending on the institution you are buying this scheme. In this scheme, the investors can also withdraw the invested amount before maturity but there they will not get any interest in return.

  • Post Office Monthly Income Scheme (MIS):

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Presented and backed by the central government of India the Post Office Monthly Income Scheme is the safest and the best investment plans for monthly income an individual can get. In this plan, one can make a minimum of RS 1500 and the maximum investment is up to 4.5 Lakh, the current interest rate offered by this policy is 7.3 per cent that is payable monthly.

  • Pradhan Mantri Vaya Vandana Yojana:

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A scheme presented by Prime Minister of India that is especially for senior citizens of India to provide social security to them. Since it is a government plan it is a best and safest plan you can get it done to secure your future. There is no maximum age required to avail this plan for yourself, the average interest return you can get in this plan is about 8 to 8.3 per cent per annum.

The above mentioned were the best investment plans for monthly income you can get it done for yourself to secure your future. Hope you liked this publication and cleared all your doubts regarding this topic. Thank You for reading

 

About janejoshua 17 Articles
Jane Joshua is a research analyst for Smarter Choice. He is an expert on consumer banking products, bank innovations, and financial technology. Joshua has contributed and/or been quoted in major publications and outlets including Consumer Reports, American Banker, Yahoo Finance, U.S. News - World Report, The Huffington Post, Business Insider, and Lifehacker

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