Monthly income schemes are an ideal option for those who want to earn a regular fixed income

People can save a certain amount on a regular basis using a monthly deposit, a sort of term deposit. People can construct a fund with tiny contributions and receive interest through these programmes offered by banks and the post office. For people who are employed, this investment strategy works well. The typical duration of recurrent deposits is between six months and ten years.

The interest on your deposit will be compounded on quarterly basis. A recurring deposit scheme will allow you to build on your savings while you deposit money on a monthly basis into the account. This will be done over a fixed period of time.

This scheme is adaptable, with no upper limit on the amount of money that can be invested. It allows people to invest in the scheme according to their financial capabilities and needs.

Monthly income scheme earnings are higher than typical fixed deposits and the post office monthly income scheme.