Monthly Income Plan (MIP)

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Monthly Income Plan (MIP)

Turn Your Savings into Monthly Income

The Monthly Income Plan provides regular monthly interest payouts making it ideal for retirees, salaried individuals, and investors looking for a stable source of income.

Key Benefits

Monthly interest credited directly

Attractive interest rate of 12% per annum

Flexible tenure options

Minimum investment of ₹10,000

Interest Can be reinvested in Recurring Deposits

Documents required for opening Monthly Income Plan (MIP)

Pan Card
Aadhar Card/ Voter Id/ Passport

F. A. Q's

Frequently Asked Questions

Find answers to the most frequently asked questions about our loans, deposit schemes, banking facilities, eligibility, documentation, and application process.

A Monthly Income Plan provides regular monthly income on your investment while your principal remains invested for the selected tenure.

The monthly income is credited directly to your registered bank account or Reinvested in RD as per your instructions.

The minimum investment starts from ₹10,000.

Yes, the principal amount is returned on maturity or shall be reinvested as per your insturctions

The maturity amount is credited to your registered bank account or paid as per your instructions at the end of the tenure.

PAN Card, Aadhaar Card, passport-size photograph, and other KYC documents as applicable.

Yes. Nomination facility is available for all eligible investment schemes.

Yes. Eligible senior citizens may receive additional 50% rate of interest Per annum on all deposits.

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