Hi
If you are looking for Monthly pay out then some of the option are as;
1. Postal Monthly Income Scheme: You more info visit this: http://www.bajajcapital.com/gss/mis.html. This is the safest because backed by govt. of India. But as always it gives 8%.
2. There are many Monthly income schemes like Reliance Monthly Income Plan, and other visit http://www.moneycontrol.com/mutual-funds/performance-tracker/mip/ab to get all the list of good MIS s. you can opt for monthly income. These work with the stock market, so in good times they give good returns and vice versa.