{"id":11265,"date":"2021-07-01T10:18:00","date_gmt":"2021-07-01T04:48:00","guid":{"rendered":"https:\/\/www.apnaplan.com\/?p=11265"},"modified":"2021-07-01T14:04:39","modified_gmt":"2021-07-01T08:34:39","slug":"monthly-income","status":"publish","type":"post","link":"https:\/\/www.apnaplan.com\/monthly-income\/","title":{"rendered":"11 Best Investments to get Monthly Income in India"},"content":{"rendered":"\n
Generating regular monthly income<\/strong><\/span> with low risk is a priority for many especially people who have retired or new entrepreneurs who need regular income until their business stabilises. In this post we list down 11 best investments which can help you generate your required monthly income with relatively low risk.<\/strong><\/span><\/p>\n\n\n\n Monthly income schemes from banks are nothing but fixed deposit scheme where the interest is credited to savings account every month\/quarter.<\/strong> This is one of the most popular investment avenue for regular cash flows. In case required you can schedule the interest payout at monthly, quarterly or annual intervals.<\/p>\n\n\n\n Expected Returns:<\/strong> 5% to 8% for General Public and 5.5% to 8.5% for Senior Citizens. This keeps on changing with interest rate cycle. <\/p>\n\n\n\n The Good:<\/strong><\/span><\/p>\n\n\n\n The Bad:<\/strong><\/span><\/p>\n\n\n\n Useful Tips:<\/strong><\/span><\/p>\n\n\n\n Fixed Deposit with Banks is one of the most popular and convenient investment option. To help you choose the best, we compare the interest rates on fixed deposit across all major 48 banks in India including government, private, foreign and small financial banks<\/a> in India every month. This may prove to be quite handy for you in choose the Best Bank FD scheme<\/a>.<\/p><\/div><\/div>\n\n\n\n As the name suggests this is fixed deposit in Post Office on which you get regular monthly interest payment. The investment tenure is for 5 years only.<\/p>\n\n\n\n Expected Return:<\/strong>\u00a06.6% (check latest Post Office MIS interest rate and other rules <\/a>)<\/p>\n\n\n\n The Good:<\/strong><\/span><\/p>\n\n\n\n The Bad:<\/strong><\/span><\/p>\n\n\n\n Are you worried that you are paying too much in income tax? Are you aware of all the changes in the tax laws? Where should you invest to save taxes? Do you know all tax sections that you can use to save your tax. Download a concise 43 page presentation free to answer all the above questions and save your taxes – legally.<\/a><\/p><\/div><\/div>\n\n\n\n SCSS is very popular and a must have investment for senior citizens. The interest is paid out Quarterly in the bank account.<\/p>\n\n\n\n Expected Return<\/strong>: 7.4%\u00a0(check latest SCSS Interest Rates<\/a>)<\/p>\n\n\n\n The Good:<\/strong><\/span><\/p>\n\n\n\n The Bad:<\/strong><\/span><\/p>\n\n\n\n Useful Tips:<\/strong><\/span><\/p>\n\n\n\n Senior Citizens\u2019 Savings Scheme<\/strong><\/strong> or SCSS is an excellent investment for senior citizens for regular income and tax saving u\/s 80C. It is 100% safe as its backed bu Government of India, the interest paid is generally higher than bank fixed deposits and the investment is eligible for tax saving u\/s 80C. We explain the eligibility, process and do’s & don’ts of SCSS in this post.<\/a><\/p><\/div><\/div>\n\n\n\n PMVVY is a pension plan launched by Government by India for Senior Citizens in May 2017 and is managed by LIC. The investor can buy PMVVY for a lump sum amount and can receive regular income for 10 years. The plan is available till March 31, 2022.<\/p>\n\n\n\n Expected Return<\/strong>: 7.4% (compounded monthly)<\/p>\n\n\n\n The Good:<\/strong><\/span><\/p>\n\n\n\n The Bad:<\/strong><\/span><\/p>\n\n\n\n LIC Pradhan Mantri Vaya Vandana Yojana (PMVVY) is an excellent investment plan for Senior citizens. You can invest up to Rs 15 lakh and get Rs 9,250 every month for 10 years. The principal amount i returned back at the end of 10 years. You can know about <\/span>how to invest in PMVVY in this detailed blog post.<\/a><\/p><\/div><\/div>\n\n\n\n There are NBFCs and Companies (both Government owned and Private) which offer fixed deposit schemes with monthly\/quarterly or annual payment of interest.<\/p>\n\n\n\n Expected Returns:<\/strong> 6% to 9% (additional 0.25% to 0.5% for senior citizens)<\/p>\n\n\n\n The Good:<\/strong><\/span><\/p>\n\n\n\n The Bad:<\/strong><\/span><\/p>\n\n\n\n Useful Tips:<\/strong><\/span><\/p>\n\n\n\n Companies offer NCDs (commonly known as bonds) from time to time. NCDs pay fixed interest rates known as coupon. You can buy NCDs directly from NSE\/BSE using your Demat account or apply for them whenever they are issued by companies. These NCDs pay interest directly in your bank account and it can be monthly\/quarterly or annual.<\/p>\n\n\n\n Expected Returns:<\/strong>\u00a06% to 11% (depending on credit rating<\/a>)<\/p>\n\n\n\n The Good:<\/strong><\/span><\/p>\n\n\n\n The Bad:<\/strong><\/span><\/p>\n\n\n\n Useful Tips:<\/strong><\/span><\/p>\n\n\n\n NCDs or non-convertible debentures or more popularly known as Bonds are a bit complex investment products. You must understand the product, risk involved, the taxation on interest received and when you sale it. We have done a separate post regarding this titled – Know all about NCDs<\/a>.<\/p> Also you can keep track of Monthly Income Scheme from Banks (SBI, ICICI, etc)<\/h2>\n\n\n\n
Get Highest Fixed Deposit Interest Rates<\/strong><\/strong><\/h4>
Post Office Monthly Income Scheme (POMIS)<\/h2>\n\n\n\n
Are you Paying Too much Taxes? Download your free presentation<\/strong><\/h4>
Senior Citizen Saving Scheme (SCSS)<\/h2>\n\n\n\n
Senior Citizens\u2019 Savings Scheme: An Excellent Investment <\/strong><\/strong><\/h4>
Pradhan Mantri Vaya Vandana Yojana (PMVVY)<\/h2>\n\n\n\n
Pradhan Mantri Vaya Vandana Yojana (PMVVY) \u2605 Good Pension Plan for Senior Citizens<\/strong><\/h4>
Company Fixed Deposit (with regular payout)<\/h2>\n\n\n\n
Company Bonds (NCDs with Regular Payout):<\/h2>\n\n\n\n
Learn All about NCDs<\/strong><\/h4>