Q:I want to invest approx. 3.50 Lac in any suitable monthly income scheme with assured returns higher than Post Office MIS plan. Please suggest plans available at present other than Post Office.
Answer: In terms of receiving monthly income, there is no assured monthly income producing product with higher returns than the PO MIS. You can get higher returns with MIPs of mutual funds (if your risk level is high) but they are not assured. MIPs are Monthly income plans – hybrid funds with mostly debt exposure but with a little bit of equity (mostly max 30%).
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