Here are the Top performing Mutual Fund MIPs to invest.
|2 Years||3 Years||5 Years|
|Baroda Pioneer MIP(G)||20.80||9.60||11.14||9.15|
|Birla SL MIP II-Wealth 25(G)||33.62||15.07||17.44||13.78|
|Canara Rob MIP-Reg(G)||48.33||8.63||11.67||10.13|
|Franklin India MIP(G)||48.41||11.32||13.62||11.50|
|ICICI Pru MIP 25(G)||34.64||12.01||14.34||12.07|
|SBI Magnum MIP(G)||35.11||13.12||13.19||11.51|
|SBI Magnum MIP-Floater Plan(G)||23.29||11.14||12.77||11.37|
|Sundaram MIP-Aggr Plan(G)||17.17||13.04||14.99||10.61|
|Tata Retirement Sav Fund - Cons Plan(G)||16.53||11.88||13.52|
Monthly Income Plans follow a conservative investment strategy, allocating only 10-20% of their corpus to equities and putting the rest 80-90% in safer bonds and other debt instruments. The returns are definitely higher than regular Post office MIPs and are enough to beat inflation.
Capital at low risk
3 Year average returns of 12% p.a.
Withdrawals can be hiked
Lower tax due to indexation
No withdrawal penalty after 1 year
Returns of 7.8% p.a - fail to beat inflation
Tax inefficient as interest if fully taxable
Penalty of 1-2% up to 3 years upon premature withdrawals