Seeking suggestion for dividend payout mutual funds.

[ak7550]

Hi, I am planning to invest 5.5 lakhs lumpsum into a mutual fund for my parents. The main idea behind this investment is to get some monthly income to satisfy monthly basic needs along with that they can get a wholesome amount after certain tenure. What's your suggestion would be in this case?
I am ok with any mutual funds or ETF. The main idea is to get as much monthly payout as possible.

 

[real_name_hidden]

I would rather have you invest some part in senior citizen saving scheme (scss) which gives good returns ( but quarterly ) and another part in a nifty 50 index fund which should be kept untouched till Scss is active.

Alternatively You can invest some money in debt mfs instead of scss for monthly income but they would give less return than scss.

P.S. You can get more returns in debt mfs also, but your parents can not take the risk with corpus.

Also contact a financial advisor instead of asking this on a a credit card centric forum