Where should I invest to get regular income

You have already invested in SBI Magnum Monthly Income Plan and I am sure you are enjoying the monthly/ quarterly dividends.

Please note the the dividends received from MIPs in your hand is tax free but the AMC has to pay 28.84% dividend distribution tax.

If you want to invest another Rs. 5 Lakhs then you can either invest in the existing scheme that you have already invested in i.e. SBI Magnum Monthly Income Scheme or choose a suitable scheme from this link https://www.advisorkhoj.com/mutual-funds...

Hope the above helps!