Financial peace of mind is not a luxury—it is a necessity, especially if you are planning for retirement or simply want a consistent income from your investments. Monthly Income Schemes (MIS) are ideal for those who value regular returns with low-to-moderate risk. These schemes invest in instruments like debt funds, fixed deposits, and government savings plans. In this guide, we will walk you through the best options available, highlight their benefits, and help you choose the right plan based on your needs.
What are the key features and benefits of monthly income schemes?
Monthly income schemes are crafted to provide reliable cash flow while maintaining capital safety. Here’s a look at what makes them attractive:
Regular Income
One of the standout features is the consistent monthly payout. Depending on the scheme, this could be either interest income or partial withdrawal from the invested amount, ensuring that your day-to-day expenses are covered.
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Flexible Premium Payment
Investors can choose how they want to fund their MIS:
- Regular Contributions: Pay monthly, quarterly, or annually based on your comfort.
- One-time Lump Sum: Invest once and enjoy long-term income without follow-ups.
- Limited Term Plans: Some schemes allow you to pay premiums for a shorter period but continue receiving payouts for longer.
Customisable Payout Options
Schemes offer flexibility based on your goals:
- Guaranteed Income: For fixed, predictable monthly returns.
- Growth-oriented Plans: Market-linked plans that provide capital appreciation along with income.
- Hybrid Models: A mix of lump-sum and monthly payouts tailored to different life stages.
Tax Benefits
Many MIS options provide tax deductions under Section 80C or allow for tax-free income payouts—adding another layer of efficiency to your investments.
