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If you are looking for regular income from mutual fund investments, you can invest in MIP mutual funds. These mutual funds invest the majority of the corpus in the fixed income securities while 10-30% can be invested in equities. MIP or Monthly Income Plan can provide periodic income with different periodicity (monthly, quarterly, half yearly). These funds are specifically designed to provide monthly income to the investors. 

There are 2 ways in which you can get monthly income from mutual funds namely, MIP and SWP.

1. MIP(Monthly Income Plan): It is a category of debt mutual fund which also invests a small proportion of the corpus in equities to generate high returns.
2. SWP(Systematic Withdrawal Plan): It is not a category of a mutual fund but is just a method of redemption which is allowed in most of the open-ended mutual funds. For promising regular income, one can invest a large amount in a liquid fund or any low-risk fund and can choose the option of SWP which will provide regular income to the investor.