Various Monthly Income Scheme
Every person likes to seek an increment in the amount of money that flows into his bank account each month. To increase your monthly income you need not put in more number of working hours. Instead you should try to become a smart investor who plans his investments in such a way that he is able to receive cash returns each month. The amount of cash return per month is not as important as the security involved with monthly income plans.
Different Types of Monthly Income Plans Which Have Gained Investors’ Trust
- Invest you money in dividend based company bonds: There are many stocks or bonds that provide monthly dividends to the stock owners. Companies actually share a part of their turnovers with the stock buyers in the form of these monthly dividends. Therefore in fixed investment you would be able to enjoy long term monthly returns.
- Opt for the safe old route of bank fixed deposits for more security: Fixed deposits are the most conventional route that all the novice investors follow. The return rate in fixed deposits is not very high but it isn’t too low either. So, you could save some money every month to invest in fixed deposits that would provide you with higher monthly interest amounts. check more on fixed deposits
- Opt for Systematic Withdrawal Plans that allow monthly payouts: Various types of systematic withdrawal plans are being associated with mutual fund baskets, retirement fund, provident fund etc. These SWP plans help the investor in receiving fixed amount of money in durations that would be decided by him.
- Opt for various mini duration debt fund investments safely: The debt funds are very beneficial if they are bought with limited duration maturity. That’s because you would be able to maintain the fluidity of money in your portfolio. These small duration debt funds would help you in raising your capital amount by up to 8% too.
Check Investment Basics to know more on investment
If you wish to make fixed deposit in state bank of India, you can read the process to make FD in SBI online.