Monthly Income Schemes for 2020
| Monthly Income Plans | Entry Age (Minimum to Maximum) | Maturity Age |
|---|---|---|
| Aditya Birla Sun Life Insurance Monthly Income Plan | 18 years to 55 years | 80 years |
| Aviva Income Suraksha | 18 years to 48 years | 65 years |
| Bajaj Allianz Life Income Assure | 0 year to 50 years | 74 years |
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What is the monthly income plan?
A Monthly Income Plan is a kind of mutual fund wherein the investment is allocated proportionately between the equity and debt markets in a ratio of 20:80 (approx.). Put simply, it is a debt-oriented mutual fund, the objective of which is to provide the investor with periodic payouts on a monthly basis.
What is HDFC Monthly Income Plan?
HDFC Monthly Income Plan – LTP is a balanced debt-oriented fund that is aggressive in nature. In order to invest in this fund, investors can put in Rs. 5,000, followed by Rs. 500. The portfolio of HDFC Monthly Income Plan – LTP include stocks such as Infosys, L&T, ICICI Bank, and the State Bank of India.
Which bank is best for monthly interest?
Interest rates on Monthly Income FD Schemes
| Top banks monthly income FD interest rates | ||
|---|---|---|
| Bank | Interest rate | Tenure range |
| Kotak Mahindra Bank | 6.80% | 365 days to 389 days |
| Union Bank of India | 6.75% | 10 months to 14 months |
| Federal Bank | 6.70% | 1 year |
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What is SBI Magnum Monthly Income Plan?
SBI Debt Hybrid Fund is a conservative hybrid fund. It was originally launched as a monthly income plan under the name SBI Magnum Monthly Income Plan in April 2001. The scheme has given attractive returns of 6.84% and 9.30% over the last 3 year and 5 year periods respectively (as of January 2019).