Best mutual funds to invest in if want monthly income?

[anish09]

Please suggest the best mutual funds to invest in if I want monthly income? The invested amount will be 30 lakhs over different schemes and funds?

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[>take]

Monthly Income Plans of mutual funds do not give a fixed rate of interest but a dividend.
Unlike a fixed deposit, the returns are not guaranteed. Neither the frequency of the dividends nor the rate of dividend.

[Rahul]

Top 3 MIP as per moneycontrol.com -

1. HDFC MIP - LTP (G)
2. Reliance MIP (G)
3. UTI MIS - Advantage Plan (G)

[Krypton]

Please suggest the best mutual funds to invest in if I want monthly income? The invested amount will be 30 lakhs over different schemes and funds?

I would suggest you to go for equity MFs schemes, there you will get more returns.