Monthly Income Schemes
Monthly Income Plans are essentially debt-oriented funds where the majority of investment is in debt instruments and a smaller portion in equity and equity instruments. Investment is done in government bonds or corporate bonds or other instruments of similar nature. The income from such instruments can be generated in the form of interest and dividends. Such income can be considered as an alternate source of income for the investors.
These monthly income plans have instruments of different maturity dates as well as different risk profiles. The ideal monthly income plans come with a focus on having the right combination of returns and risk. Also, the funds may have varied investments in large-cap stocks, mid-cap stocks, or small-cap stocks depending on fund profile.
Who should invest in MIPs?
- Monthly income plans are best suited for investors who are seeking to gain returns higher than other fixed-income investment sources (like those mentioned above) with low risks associated with them.
- The target investors for these plans are retirees or people having a low-risk appetite as well as a lower investment budget. It can provide them with a steady source of income and also a safety net against unfortunate circumstances.
What are the benefits of MIP?
- Reduced risk
- Lower expenses
- Diversification
- Better returns
- Hedge against inflation
Requirements Documemnts
- Valid Photo I.D. & Address Proof of proprietor / partners /directors
- (A) Any one of proof for all partners/ directors or proprietor (Photo Id)
1.Passport, 2.Driving License, 3.Voter ID Card, 4.Government Approved College/university I.Card, 5. Government/Semi government/Department I.Card 5. Aadhar Card
- (B) Address Proof(Any One)
1. Electricity Bill (not more than 2 months old) 2. BSNL Landline Telephone Bill (not more than 2 months old) 3.Municipal Tax Bill
- Other proof acceptable by Bank.
- Passport Size Photograph – 2 Copies
- Pan Card.
- Birth Certificate for minor a/c.
Note: Contact nearest branch for more details.
