For both the elderly and the young alike, it is considered wise that they invest a portion of their money on a monthly basis. This ensures that they get returns, are able to better their lifestyle, and have financial stability.

Given below are thus some monthly income schemes which are considered to be the best by people across all age and income groups -

Fixed Deposit - This is one of the most popular income investment plans and is considered to be the safest too. They also deliver guaranteed returns. The interest rates can go up to 8.75% with an additional 0.35% for senior citizens. This will however depend on the lender and the tenure of the fixed deposit.


Monthly Income Scheme - This is offered by the post offices across the country and is considered by the middle class to be one of the safest investment options. If invested in, it offers steady rate of returns that is currently at 7.3% per annum. The maximum amount allowed to be invested is Rs. 4.5 lakhs if it is a single account and Rs. 9 lakhs if it is a joint account. Also, the scheme matures in 5 years after which the amount earned can be reinvested once again in MIS.

PMVVY - Also known as the Prime Minister Vaya Vandana Yojana, it is considered ideal for senior citizens as it offers guaranteed returns of 8%. The scheme is maintained by the Life Insurance Corporation (LIC) of India. After the annual budget of 2018, the investment limit for this scheme has been raised from Rs. 7.5 lakhs to Rs. 15 lakhs. It is kind of a pension scheme, wherein the returns are paid at the end of the month, quarter, or six months as chosen by the pensioner.


With these investment plans you may also invest in small investment plans in India. Here’s everything you need to know about these small saving schemes in India.