Can I get fixed monthly income by investing in mutual fund units?

There are Monthly Income Plans (MIPs) in mutual funds that can give monthly returns. These are actually hybrid funds, have 80-20 allocation in debt and equity respectively. You can choose monthly dividend option for monthly income. But remember that being mutual funds, dividend is not guaranteed though in most probability the good MIPs might not fail in giving dividends every month. MIPs are suitable for retirees who cannot afford more exposure to equities and do not have alternative sources of regular income.

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