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Should I invest my FD maturity amount in Mutual Fund MIPs

In view of the FD interest rates going down, I have done the following for two FDs each of 2.5 lac each in name of self & wife a) Self: Invested in FD for 1.13 lac @ 7.5 % pa in state bank, balance invested in SBI magnum Balanced fund - Div monthly. b) Wife: Invested in FD for 1.13 lac @ 7.5% pa and balance invested in Birla Sunlife MIP Wealth 25 monthly Dividend. As we are retired people and wanting regular monthly income, this is what I have done. Please suggest if there are better ways of management as my next FD is maturing mid June for 5 lac?

Jun 4, 2016 by Murali K J, Palakkad  |   Mutual Fund

We think by spreading your investments in Fixed Deposits and Mutual Fund MIPs you have done a good thing.

However, please note that Mutual Fund MIPs are much better investment options compared to bank fixed deposits for retired couples like you. We have given few detailed replies to similar queries which you should read before deciding to invest the amount of 5 Lacs in Fixed deposits or MIPs –

How to plan retirement through Mutual Funds

Investment of retirement corpus

Would you please advise investment option for my retirement money

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