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Imagine having a steady stream of income flowing into your bank account every month without worrying about market fluctuations. Yes, even in today’s inflationary environment, you can find investment avenues that can help you stay ahead of the curve. If you want to know more, read on. In this article, we'll dive deep into the world of monthly income investments, unveiling the best options that can give you steady returns.
What are Monthly Income Schemes?
Monthly income schemes are financial products that enable you to earn a regular income on your investments. These products are usually a combination of fixed-income securities, such as deposits, bonds, debentures treasuries, and equities. The true value of MIPs is in their flexibility, allowing investors to choose from a variety of options based on goals, risk tolerance, investment horizon, and more.Also read: Types of Investments Options in India
The Best Monthly Income Schemes
Long Term Government Bonds
Long-term government bonds are a type of debt securities issued by the central or state government with extended maturity periods, often exceeding 10 years. These are sovereign-backed debt instruments which are largely popular among investors seeking stable, albeit low-risk returns.Like a debt security, the government bond promises to pay a fixed interest income on the face value of the bond, along with the repayment of the principal on maturity. Today a slew of government bonds are available where small investors can also park their money.
Investment Limit
There is no specific limit for investing in government bonds, making them accessible to a wide variety of investors. Since the return is low, one should examine their long-term investment goals before investing. A small corpus invested in government securities assists with portfolio diversification and adds stability.Interest rate:
The interest rate of the government bond depends on the specific bonds and is subject to regulatory and policy changes.Tenure
These are fixed-tenure investment schemes. The average maturity of government bonds is 10 years.Initial investment amount:
Investing in government securities doesn’t require a substantial amount. The minimum investment requirement is ₹1000.Life Insurance Savings Plan
Life insurance policies are widely recognised for providing death benefits. However, there's another dimension to life insurance which provides you an investment or savings component. These are called Life Insurance Savings Plans and here’s how they work. If the policyholder passes away during the policy period, the insurer pays the agreed-upon life cover amount to the nominated beneficiary. However, if the policyholder lives through the policy's term, they receive a maturity benefit. This benefit includes all the premiums paid plus any additional bonuses and loyalty additions.Investment limit:
There are no specific limits to investing in a life insurance savings plan.Interest rate:
The rate of return depends on the specific plan and overall market performance.Typically, the rate of returns varies between 5%-20% over 10 years.Tenure:
Usually, life coverages are available for 5-40 years tenure. However, the actual period of insurance is directly proportional to the age of the insured.Initial investment amount:
The life insurance premium is a combination of various factors such as the age of the insured, coverage required, medical conditions, and riders included. Also, the premium amount varies between the insurance companies.Also read: Beginners Guide To Invest Money
Equity Share Dividends
A dividend is a share of a company’s profit distributed among its investors. Companies that pay regular dividends are usually stable and have healthy financials, which allow them to generate continuous profit. These dividends offer you a steady stream of monthly income by distributing a portion of a company's profits to its investors regularly.Investment limit:
Investing in equity investment is the same as share market investment. There is no general applicable limit on investing in companies.Interest rate:
The percentage of dividends is decided by the board of directors, which may vary from company to company.Tenure:
Dividend shares are typically considered for accumulating wealth over time. Investors often hold these shares for decades for potential dividend income and capital appreciation.Initial investment amount:
There is no fixed initial investment value.Post Office Monthly Schemes
Most of us are already familiar with the India Post, the government-operated postal system in the country. But besides delivering our post, the post office also offers a slew of savings schemes. One such plan is the Post Office Monthly Income Scheme, which is an investment product backed by the Government of India. Investments made in the POMIS are routed largely to government debt securities. Since they carry a sovereign tag, POMIS is generally considered a low-risk avenue for investment. Here are some of its key features.Investment Limit:
As per the 2023-2024 budget, a single account can invest up to ₹ 9 lakh per annum in POMIS schemes. Additionally, investments of up to ₹ 15 lakh per annum can be made for joint accounts.Interest rate:
The POMIS interest rate at the time of writing is 7.4%.Tenure:
The lock-in period is 5 years. After this period, you can either withdraw your funds or choose to reinvest them.Initial investment amount:
The POMIS does not require a substantial amount of capital to get started. You can start with as low as ₹ 1000.Also read: 4 Reasons Why Goal-Based Investing is Important
Senior Citizens Savings Scheme
The provide seniors with a regular stream of income post their retirement, the government launched the Senior Citizens Savings Scheme in 2004. Nearly 20 years down the line, the SCSS is still one of the most popular investment products for Senior Citizens seeking a regular income stream. SCSS invests its corpus primarily in government debt securities, which means that your principal amount invested is secure, and you receive guaranteed returns. What’s more, your investment in SCSS carries tax benefits, making it a tax-efficient option. You can invest in SCSS through your bank or Post Offices across India.Investment limit:
The maximum investment limit is ₹ 15 lakh per individual.Interest rate:
The interest rate is set by the government based on prevailing market rates. The rates are typically higher than other fixed-income options.Tenure:
The SCSS has a maturity period of 5 years, which can be extended for an additional 3 years.Initial investment:
There is no specific minimum initial investment mentioned, but it should be equal to or more than ₹ 1,000.Annuity Plans
Insurance products have evolved over the years and today you can get plans that offer you regular income. These are called annuity plans and are a great option for retired individuals. Simply put, an annuity is a contract between you and an insurer or financial institution, whereby you pay a lump sum amount in exchange for regular monthly payments with accrued interest. The products are further fragmented into three different types – fixed annuities, variable annuities, and indexed annuities. The monthly payout is contingent on the type of plan you choose, along with factors such as your age and interest rate. Annuity plans are independent financial products, which means that you do not need to have an existing insurance policy to buy these plans. However, some types of annuity plans are linked with stock market returns, so your returns may vary from month to month.Investment limit:
Annuity plans require a lump-sum premium payment, and there may not be a specific investment limit.Interest rate:
Annuity plans provide periodic payments, and the interest rate or annuity rate depends on the insurance company and the specific plan.Tenure:
Annuity plans can be for a fixed term or provide lifelong payments.Initial investment:
The initial investment amount depends on the premium chosen by the policyholder.Also read: Fixed Income: Falling Interest Rates? Ways To Reduce Reinvestment Risks
Pradhan Mantri Vaya Vandana Yojana
The Pradhan Mantri Vaya Vandana Yojana is a rather unique product that combines elements of pension schemes and insurance. Introduced by the Life Insurance Corporation of India in 2017, the PMVVY scheme caters exclusively to retired individuals aged 60 and above by offering them a fixed guaranteed income every month in exchange for a lump sum payment (usually a single premium). The policy terms last for 10 years, during which you receive fixed pension payments based on the purchase price, pension payment frequency, and pension rate, as defined by the scheme. Its insurance element comes in the form of a death benefit, whereby you are entitled to the purchase price in case of an unfortunate demise. Additionally, you are entitled to maturity benefits and can also avail a loan against your policy if needed.Investment limit:
The maximum investment limit is ₹ 15 lakh per individual.Interest rate:
The interest rate is determined and periodically revised by the government.Tenure:
The PMVVY has a tenure of 10 years.Initial Investment:
The minimum purchase price for PMVVY is ₹ 1,56,658 for a monthly pension of ₹ 1,000.Also read: Which Is Better Between Pradhan Mantri Vaya Vandana Yojana (Pmvvy) And Senior Citizen Savings Scheme (Scss)?
Systematic Withdrawal Plans (SWP)
Mutual funds are a great way to grow your investments in line with stock market returns. However, since the returns tend to fluctuate, you will need to oversee your investments from time to time. You may even be tempted to withdraw your investments in case the market stays consistently in the red or doesn’t generate the returns you are looking for. To avoid these hassles, you can opt for something called a Systematic Withdrawal Plan. These plans offer you the opportunity to cash out a certain amount of your mutual fund investment every month, allowing you to receive fixed monthly payments. For example, let’s assume you have invested ₹ 1,00,000 in mutual funds and have set up a SWP of ₹ 2,000 every month. Every month, the mutual fund will automatically deposit ₹ 2,000 in your account and reduce it from your investment. Your balance amount in the mutual fund will continue to generate returns. However, keep in mind that if the fund’s performance is poor, the value of your investments may decrease over time, in which case you may need to adjust your monthly withdrawal amounts accordingly.Investment Limit:
SWP is a withdrawal strategy from existing investments like mutual funds, so there's no specific investment limit.Interest Rate:
SWP returns depend on the performance of the underlying investment.Tenure:
SWP allows you to choose how much and how often you want to withdraw from your investments.Initial Investment:
There’s no fixed initial investment.Also read: 5 Investment Options For The First Time Investor
Corporate Fixed Deposits
One of the more traditional and straightforward ways to earn regular monthly income is through bank fixed deposits. However, the same has not always been popular if you are looking to beat the inflation rate. Bank FD rates, especially post-tax, are typically well below the rate of inflation. In other words, locking your money in bank FDs can erode the value of your investment over time. Corporate FDs have emerged as an alternative to bank FDs for those who may be willing to take more risk for greater returns. Corporate FDs are structured like bank FDs but are offered by non-banking institutions. This means that they carry a higher degree of risk than banks. However, corporate FDs offer higher rates of interest, ranging between 8% and 10%. Overall, corporate FDs are a good option for those who have a higher risk appetite and are seeking higher returns.Investment Limit:
Corporate FDs typically have no specific maximum investment limit.Interest Rate:
The interest rates on corporate FDs can vary widely among different companies.Tenure:
Corporate FDs offer various tenure options, typically ranging from a few months to several years.Initial Investment:
The minimum initial investment amount can vary among different companies.Monthly Income Plan (MIP)
Another type of product tied to mutual funds is called a Monthly Income Plan. It is a type of mutual fund that pools your investment into a basket of different debt and equity products. Fund managers are responsible for overseeing your investments and ensuring that you receive returns from your investments at regular intervals. These returns can also come in the form of dividends, which are distributed to the investors.Investment Limit:
MIPs generally do not have specific maximum investment limits. Investors can typically invest as per their financial capacity.Interest Rate:
The returns from MIPs depend on the performance of the underlying debt and equity securities in the fund's portfolio. There is no fixed interest rate.Tenure:
MIPs are open-ended mutual fund schemes, which means there is no fixed tenure. Investors can stay invested for as long as they wish.Initial Investment:
The minimum initial investment amount for MIPs can vary among different mutual fund companies and schemes. It can typically range from a few thousand rupees to lakhs.Also read: Your Money: Investment Tips For Those Opting For The New Tax Regime
Here is a summary of all the options you have on your table.
| Investment Option | Investment Limit | Minimum Entry Age | Tax Benefits | Rate of Returns | Minimum Period of Investment | Level of Risk |
| Long-Term Government Bonds | No maximum limit | 18 years and above. | Exemptions available under section Section 80CCF | Typically between 5%-7% | Average maturity is 10 years | |
| Post Office Monthly Schemes | Single Life - ₹1,000-₹9 lakhs Joint Life - ₹1,000-₹15 lakhs | 18 years and above. Can also be open on behalf of a minor who is 10 years old or above. | Nil | 7.4% p.a. | 5 years | Low |
| Senior Citizen Saving Scheme (SCSS) | ₹1,000-₹30 lakhs | 60 years | Deductions available under Section 80C of the IT Act, 1961 | 8.2% p.a. | 5 years, can be extended once for 3 more years | Low |
| Pradhan Mantri Vaya Vandana Yojana (PMVVY) | ₹1.56 lakhs-₹15 lakhs | 60 years | Nil | 7.4% p.a. | 10 years, with pension payment frequency options | Low |
| Systematic Withdrawal Plans (SWPs) | ₹500-No limit | 18 years | Subject to the type of plan chosen | Market-dependent (typically 7%-13%) | 5-40 years | Moderate to High |
| Annuity Plans | ₹25,000-No upper limit | 18 years | Deductions available under Section 80C, Section 80CCC, and Section 80CCD | 5.2%-9.2% | 1 year. Options are available for 5, 10, 15 and 20 years as well. | Low to Moderate |
| Corporate Fixed Deposits | Depends from company to company. Typically varies from ₹5,000-no upper limit | No age limit. Minors can invest in Corporate FDs provided with the support of guardians. | Interest is taxable at the slab | 3.5%-8.2% | 1 year-5 years | Moderate |
| Monthly Income Plan (MIP) | ₹1,000-No upper limit | 18 years | Deductions available under Section 80C of IT Act, 1961) | Varies depending on the type of fund and market forces. Can range from 5.06%-10.1% | Depends on the type of fund. | Moderate to High |
| Life Insurance Savings Plan | Typically ranges from ₹1,500-no upper limit | 18 years | Can avail a tax benefit of up to ₹1,50,000 in a single year under sections 80C and 80CCC of the Income Tax Act | Typically ranges between 5%-20% over 10 years. | 5 years | |
| Equity Share Dividend | No general investment limit | 18 years | TDS rate is not applicable if dividend income received in a single year does not exceed ₹5,000 | Varies from company to company | You must buy or already own the stock at least two days before the record date and retain ownership through the trading day just before the ex-date to be eligible for dividends. |
What is the importance of Investing in Monthly Income Schemes?
• Monthly income plans offer a consistent cash flow, ensuring your financial stability.• Diversifying your investments among different MIPs can reduce risk and enhance returns.
• Many MIPs guarantee your initial investment amount, providing peace of mind.
• Certain MIPs offer tax deductions under Section 80C, reducing your tax liability.
• Monthly Income Schemes encourage disciplined savings and help in long-term wealth creation.
• Some MIPs offer easy withdrawal options, ensuring access to your funds when needed.
Also read: Received Your Year-End Bonus? Here’s the Smartest Investment You Can Make
Who Should Invest in Monthly Income Schemes?
- Senior citizens looking for a regular source of income during retirement are ideal candidates for monthly income schemes.
- Those seeking supplementary income to meet expenses or save for future goals.
- People who prefer steady returns over high-risk, high-reward investments can find options such as POMIS and Annuity Plans to be extremely attractive.
- Those interested in wealth creation with the assurance of regular income.
How to Invest in the Right Monthly Investment Scheme
Pay heed to your risk tolerance
Your risk tolerance has a direct impact on your choice of investment. If you are burdened by major expenses and don’t want to take major risks with your savings, safe options like FDs or SCSS may be more suited to your needs.Assess your financial objectives
Are you looking for a steady income post-retirement or merely a way to supplement your income? Is tax-saving important to you? Are you risk-averse or willing to take risks? Assessing your financial goals and objectives will help you zero in on the right MIP.Do your market research
Doing your due diligence not only involves assessing your personal goals but also factoring in market risk. This accounts for stock market performance, inflation, and other factors that might erode your purchasing power. Should the market be in a rut, you may want to avoid equity mutual funds and look for a safe monthly plan like the Post Office Monthly Income Scheme.Analyse your liquidity needs
Finally, understand your liquidity needs. Fixed deposits, for instance, may not allow you to prematurely withdraw your funds without incurring a penalty.Also read: How Much Investment Risk To Take
Conclusion
Investing in monthly income schemes in India is a smart financial move for those who value a regular income stream, capital protection, and the possibility of long-term wealth creation. With a plethora of options available at your disposal, all you need to do is put in some time and research to figure out which one is tailored to your needs.FAQS – FREQUENTLY ASKED QUESTIONS
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How can you get monthly income from mutual funds ?
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What is the difference between mutual funds and other investment options ?
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How to earn a monthly income from 25 lakhs ?
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Is the interest of SCSS fixed for 5 years ?
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Is life insurance a saving or an investment ?
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What if I invest 10000 a month in SIP for 15 years ?
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The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.
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This Website is provided to you on an "as is" and "where-is" basis, without any warranty. ABCL, for itself and any ABC Companies and third party providing information, Materials (defined later), facilities, or content to this Website, makes no representations or warranties, either express, implied, statutory or otherwise of merchantability, fitness for a particular purpose, or non-infringement of third party rights, with respect to the website, the information or any products or facilities to which the information refers. ABCL will not be liable to you or any third party for any damages of any kind, including but not limited to, direct, indirect, incidental, consequential or punitive damages, arising from or connected with the site, including but not limited to, your use of this site or your inability to use the site, even if ABCL has previously been advised of the possibility of such damages. Any access to information hosted on third party websites of billers/banks/merchants/ABC Companies etc. is not intended and shall not be treated as an offer to sell or the solicitation of an offer to buy any product/offering of these ABC Companies or third parties.
The Facilities Provider or ABCL or ABC Companies shall have absolutely no liability in connection with the information and Material posted on this Website including any liability for damage to your computer hardware, data, information, materials, or business resulting from the information and/or Material or the lack of information and/or Material available on the Website. In no event shall ABCL or ABC Companies shall be liable for any for any special, incidental, consequential, exemplary or punitive damages for any loss, arising out of or in connection with (a) the use, misuse or the inability to use this Website; (b) unauthorized access to or alteration of your transmissions or data; (c) statements or conduct of any third party on the site; or (d) any other matter whatever nature relating to this Website.
Further, the Facilities Provider cannot always foresee or anticipate technical or other difficulties. The facilities may contain errors, bugs, or other problems. These difficulties may result in loss of data, personalization settings or other facilities interruptions. The Website does not assume responsibility for the timeliness, deletion, mis-delivery, or failure to store any user data, communications, or personalization settings.
The Facilities Provider, ABCL, ABC Companies and the providers of information shall not be liable, at any time, for any failure of performance, error, omission, interruption, deletion, defect, delay in operation or transmission, computer virus, communications line failure, theft or destruction or unauthorized access to, alteration of, or use of information contained at this Website.
Manner of Use of Personal Information
All Personal Information including Sensitive Personal Information provided/related to you, shall be stored/used/processed/transmitted expressly for the Purpose or facilities indicated thereon at the time of collection and in accordance with the Privacy Policy. Other than those otherwise indicated and agreed by You, this Website do not collect or store or share your Personal Information. Aditya Birla Capital is the brand and accordingly all products and facilities are provided by respective ABC Companies as applicable. Therefore, for any of these Purposes, the Website will use ABC Companies their authorized third party vendors, agents, contractors, consultants or facilities providers (individually a ‘Third Party Service Provider’ and collectively, the “Third Party Service Providers”) and to that extent you understand and authorize the Facilities Provider to share/transmit such information to Third Party Service Providers. Such sharing of information will be solely for the purpose to fulfill / complete / authenticate your specific requests/transaction execution and for providing information about any ABC Companies product or facilities or services or for data analytics or to deliver to you any administrative notices, alerts or communications relevant to your Purpose (and which may include sending promotional emails or SMS or calls or any other mode permitted under law) or to analyze the usage and improve the facilities/solutions offered or for any research or troubleshooting problems, detecting and protecting against errors or to improve features, tailor the facilities on the Website to your interests, and to get in touch with you whenever necessary.
Except in the manner as stated in the Privacy Policy, the Website will not disclose your Personal Information with any affiliated or unaffiliated third parties,
You may receive e-mails /communications/notifications from the Third Party Services Providers regarding facilities updates, information/promotional e-mails/SMS and/or update on new product announcements/services in such mode as permitted under law.
Use of Website in India
This Website is controlled and operated from India and there is no representation that the Materials/information are appropriate or will be available for use in other locations. If you use this Website from outside the India, you are entirely responsible for compliance with all applicable local laws. There is no warranty or representation that a user in one region may obtain the facilities of this website in another region.
Information published on the Website may contain references or cross references to products, programs and facilities offered by ABC Companies/third parties that are not announced or available in your country. Such references do not imply that it is intended to announce such products, programs or facilities in your country. You may consult your local advisors for information regarding the products, programs and services that may be available to you.
In your use of the Website, you may enter correspondence with, purchase goods and/or facilities from, or participate in promotions of advertisers or members or sponsors of the web site, including those of ABC Companies. Unless otherwise stated, any such correspondence, advertisement, purchase or promotion, including the delivery of and the payment for goods and/or facilities, and any other term, condition, warranty or representation associated with such correspondence, purchase or promotion, is solely between you and the applicable ABC Companies and/or third parties.
You agree that Facilities Provider / ABC Companies has no liability, obligation or responsibility for any such correspondence, purchase or promotion between you and any other ABC Companies and/or third parties.
Third party websites
This Website may be linked to other websites (including those of ABC Companies) on the World Wide Web that are not under the control of or maintained by ABCL. Such links do not indicate any responsibility or endorsement on our part for the external website concerned, its contents or the links displayed on it. These links are provided only as a convenience, in order to help you find relevant websites, facilities and/or products that may be of interest to you, quickly and easily. It is your responsibility to decide whether any facilities and/or products available through any of these websites are suitable for your purposes. The Facilities Provider or ABCL is not responsible for the owners or operators of these websites or for any goods or facilities they supply or for the content of their websites and does not give or enter into any conditions, warranties or other terms or representations in relation to any of these or accept any liability in relation to any of these (including any liability arising out of any claim that the content of any external web site to which this web site includes a link infringes the intellectual property rights of any third party).
USE of APP
In case any facilities/services, access/dissemination of information or execution of transaction is done through use of any APP related to ABC Companies, the additional terms and conditions governing the Use of APP shall be applicable and to be read along these Terms of Use.
Postings and monitoring
The Facilities Provider or ABCL or ABC Companies does not routinely monitor your postings to the Website but reserves the right to do so if deemed necessary if it is related to the facilities offered on the web site and to comply with law. However, in our efforts to promote good citizenship within the internet community, if the Facilities Provider or ABCL or ABC Companies becomes aware of inappropriate use of the Website or any of its facilities, any information, opinions, advice or offers posted by any person or entity logged in to the Website or any of its associated sites is to be construed as public conversation only, and the Facilities Provider or ABC Companies shall not be liable or responsible for such public conversation. You agree that in such cases, we will respond in any way that, in our sole discretion, as deemed appropriate. You acknowledge that Facilities Provider or ABC Companies will have the right to report to law enforcement authorities any actions that may be considered illegal, as well as any information it receives of such illegal conduct. When requested, ABC Companies/Facilities Provider will co-operate fully with law enforcement agencies in any investigation of alleged illegal activity on the internet.
Submissions and unauthorized use of any Materials contained on this Website may violate copyright laws, trademark laws, the laws of privacy and publicity, certain communications statutes and regulations and other applicable laws and regulations. You alone are responsible for your actions or the actions of any person using your user name and/or password. As such, you shall indemnify and hold Facilities Provider, ABCL / ABC Companies and its officers, directors, employees, affiliates, agents, licensors, and business partners harmless from and against any and all loss, costs, damages, liabilities, and expenses (including attorneys' fees) incurred in relation to, arising from, or for the purpose of avoiding, any claim or demand from a third party that your use of the Website or the use of the Website by any person using your user name and/or password (including without limitation your participation in the posting areas or your submissions) violates any applicable law or regulation, or the rights of any third party.
We reserve the right to terminate access to this Website at any time and without notice. Further this limited license terminates automatically, without notice to you, if you breach any of these Terms of Use. Upon termination, you must immediately destroy any downloaded and printed Materials.
If you come across any breaches/violation or offensive material you must report to us at abc.secretarial@adityabirla.com
Use of Cookies
You agree and understand that the Website will automatically receive and collect certain anonymous information in standard usage logs through the Web server, including computer/computer resource-identification information obtained from "cookies" sent to your browser from a web server or other means as explained in the Privacy Policy.
Facilities Changes and Discontinuation
The Website reserves the right to discontinue or suspend, temporarily or permanently, the facilities. You agree that the Facilities Provider/ ABC Companies will not be liable to you in any manner whatsoever for any modification or discontinuance of the facilities. The format and content of this Website may change at any time. We may suspend the operation of this Website for support or maintenance work, in order to update the content or for any other reason.
ABCL, ABC Companies, and its directors, employees, associates, or other representatives shall not be liable for any damages or injury, arising out of or in connection with the use, or non-use including non-availability of the Website and also for any consequential loss or any damages caused because of non-performance of the system due to a computer virus, system failure, corruption of data, delay in operation or transmission, communication line failure, or any other reason whatsoever. The Website will not be responsible for any liability arising out of delay in providing any information on the Website.
Compliance with the Law
You agree that you will not:
- Use any robot, spider, scraper, deep link or other similar automated data gathering or extraction tools, programme, algorithm or methodology to access, acquire, copy or monitor the Website, or any portion of the Website.
- Use or attempt to use any engine, software, tool, agent, or other device or mechanism (including without limitation, browsers, spiders, robots, avatars or intelligent agents) to navigate or search the Website, other than the search engines generally available by third party web browsers
- Post or transmit any file which contains viruses, worms, Trojan horses or any other contaminating or destructive features, or that otherwise interferes with the proper working of the Website or the facilities.
- Attempt to decipher, decompile, disassemble, or reverse engineer any of the software, comprising or in any way making up a part of the Website or the facilities.
- You agree not to use the facilities for illegal purposes or for the transmission of material that is unlawful, harassing, libelous (untrue and damaging to others), invasive of another's privacy, abusive, threatening, or obscene, or that infringes the rights of others.
Restrictions on Commercial Use or Resale
Your right to use the facilities is personal to you; therefore, you agree not to resell or make any commercial use of the facilities. In addition, the Website welcomes your feedback as a user of the facilities. Any feedback you provide will become the confidential and proprietary information of the Website, and you agree that the Website may use in any manner and without limitation, all comments, suggestions, complaints, and other feedback you provide relating to the Website. The Website shall have a worldwide, royalty-free, non-exclusive, perpetual, and irrevocable right to use feedback for any purpose, including but not limited to incorporation of such feedback into the Website or other Website software or facilities.
No Endorsements
All product and facilities marks contained on or associated with the facilities that are not the Website marks are the trademarks of their respective owners. The Website would require you to respect the same. References to any such names, marks, products or facilities of third parties or hypertext links to third party sites or information does not imply the Website’s endorsement, sponsorship or recommendation of the third party, information, product or facilities.
Promotional Offers
You may receive from time to time, announcement about offers with intent to promote this Website and/or facilities/products of ABC Companies (“Promotional Offers”). The Promotional Offer(s) would always be governed by these Terms of Use plus certain additional terms and conditions, if any prescribed. The said additional terms and conditions, if prescribed, would be specific to the corresponding Promotional Offer only and shall prevail over these Terms of Use, to the extent they may be in conflict with these Terms of Use. The Website reserves the right to withdraw, discontinue, modify, extend and suspend the Promotional Offer(s) and the terms governing it, at its sole discretion.
Charges for use of Website
There are no charges or fees to be paid by you for use of this Website. However, you are responsible for all telephone access fees and/or internet service fees that may be assessed by your telephone and/or internet service provider. You further agree to pay additional charges, if any levied by Third Party Service Provider(s), for the facilities provided by them through the Website (Additional Charges).
No Endorsement
You are advised to be cautious when browsing on the internet and to use good judgment and discretion when obtaining information or transmitting information. From this Website, users may visit or be directed to third party web sites. The Website makes no effort to review the content of these web sites, nor is the Website or its licensors responsible for the validity, legality, copyright compliance, or decency of the content contained in these sites.
In addition, the Website does not endorse or control the content of any other user and is not responsible or liable for any content, even though it could be unlawful, harassing, libelous, privacy invading, abusive, threatening, harmful, vulgar, obscene or otherwise objectionable, or that it infringes or may infringe upon the intellectual property or other rights of another. You acknowledge that the Website does not pre-screen content, but that the Website will have the right (but not the obligation) in their sole discretion to refuse, edit, move or remove any content that is available via the facilities.
Electronic Communications
These Terms of Use and any notices or other communications regarding the Facilities may be provided to you electronically, and you agree to receive communications from the Website in electronic form. Electronic communications may be posted on the Website and/or delivered to your registered email address, mobile phones etc either by Facilities Provider or ABC Companies with whom the services are availed. All communications in electronic format will be considered to be in "writing". Your consent to receive communications electronically is valid until you revoke your consent by notifying of your decision to do so. If you revoke your consent to receive communications electronically, the Facilities Provider shall have the right to terminate the facilities.
Assignment
You shall not assign your rights and obligations under this Agreement to any other party. The Website may assign or delegate its rights and/or obligations under this Agreement to any other party in future, directly or indirectly, or to an affiliated or group company.
Legal Disclaimers
The information provided on or through the Website is for general guidance and information purposes only and they do not in any manner indicate any assurance or opinion of any manner whatsoever. Any information may be prone to shortcomings, defects or inaccuracies due to technical reasons. Certain information on Website may be on the basis of our own appraisal of the applicable facts, law and regulations in force at the date hereof.
The information (and opinions, if any) contained on the Website may have been obtained from public sources believed to be reliable and numerous factors may affect the information provided, which may or may not have been taken into account. The information provided may therefore vary (significantly) from information obtained from other sources or other market participants. Any reference to past performance in the information should not be taken as an indication of future performance. The information is dependent on various assumptions, individual preferences and other factors and thus, results or analyses cannot be construed to be entirely accurate and may not be suitable for all categories of users. Hence, they should not be solely relied on when making investment decisions. Your investment or financial decision shall always be at your own discretion and based on your independent research; and nothing contained on the Website or in any information would construe ABCL/ABC Companies or any of its employees/authorized representative as having been in any way involved in your decision making process. Any information and commentaries provided on the Website are not meant to be an endorsement or offering of any stock or investment advice.
Nothing contained herein is to be construed as a recommendation to use any product, process, equipment or formulation, in conflict with any patent, or otherwise and Facilities Provider / ABCL/ABC Companies makes no representation or warranty, express or implied that, the use thereof will not infringe any patent, or otherwise. Information on this Website sourced from experts or third party service providers, which may also include reference to any ABCL Affiliate. However, any such information shall not be construed to represent that they belong or represent or are endorsed by the views of the Facilities Provider or ABC Companies. Any information provided or sourced from ABCL Affiliate belongs to them. ABCL is an independent entity and such information from any ABCL Affiliate are not in any manner intended or to be construed as being endorsed by ABCL or Facilities Provider. The information does not constitute investment or financial advice or advice to buy or sell, or to endorse or solicitation to buy or sell any securities or other financial instrument for any reason whatsoever. Nothing on the Website or information is intended to constitute legal, tax or investment advice, or an opinion regarding the appropriateness of any investment or a solicitation of any type. Investment in the securities market and any financial instruments are inherently risky and you shall always assume complete and full responsibility for the outcomes of all the financial or investment decisions that you make, including but not limited to loss of capital. You are therefore advised to obtain your own applicable legal, accounting, tax or other professional advice or facilities before taking or considering an investment or financial decision.
No Solicitation
No Information at this Website shall constitute an invitation to invest in ABCL or any ABC Companies. These are meant for general information only or to meet statutory requirements or disclosures. ABCL or any of its employees are in no way liable for the use of the information by you, when making any decision or investing or trading through any investment vehicles or ABC Companies, or any other third party which may be engaged in offering of these services.
The information contained on this Website does not represent and should not be used to construe (i) the terms on which a new transaction would be entered into by ABCL or ABC Companies, (ii) the terms on which any existing transactions could be unwound by ABCL or ABC Companies, (iii) the calculation or estimate of an amount that would be payable following an early termination of any past/existing transactions or (iv) the valuations given to any transactions by ABCL or ABC Companies in their books of account for financial reporting, credit or risk management purposes.
Statutory Disclosure
ABCL and ABC Companies are engaged in a broad spectrum of activities in the financial services sectors. You understand and acknowledge that Aditya Birla Money Limited (‘ABML’), Aditya Birla Finance Limited (‘ABFL’) and Aditya Birla Sun Life Asset Management Company Limited and trustees and sponsor of Aditya Birla Sun Life Mutual Fund (‘ABSLMF’) are group companies and ABML / ABFL also acts as a distributor of ABSLMF. Any recommendation or reference of schemes of ABSLMF if any made or referred on the Website, the same is based on the standard evaluation and selection process, which would apply uniformly for all mutual fund schemes. You are free to choose the execution facilities in the manner deemed fit and proper and no commission will be paid by ABSLMF to ABML / ABFL if you choose to execute a transaction with ABSLMF on the Website, unless otherwise agreed by you and ABML/ABFL separately. Information about ABML/ABFL, its businesses and the details of commission structure receivable from asset management companies to ABML/ABFL, are also available on their respective Website.
Similarly Aditya Birla Money Insurance Advisory Services Limited and Aditya Birla Insurance Brokers Limited are insurance intermediaries and engaged in the distribution of Insurance Products and it may services may include products of Aditya Birla Sun Life Insurance Company Limited and Aditya Birla Health Insurance Company Limited. However there is no conflict on these services and commissions if any payable are in accordance of the extant regulations.
Force Majeure
The Facilities Provider, ABC Companies and any of its Third Party Service Providers shall not be liable for any delay or failure in performance resulting directly or indirectly from acts of nature, forces, or causes beyond their reasonable control, including, without limitation, Internet failures, computer equipment failures, telecommunication equipment failures, other equipment failures, electrical power failures, strikes, virus, other malicious computer code, hacking, labour disputes, riots, insurrections, civil disturbances, shortages of labour or materials, fires, flood, storms, explosions, acts of God, war, earthquake, governmental actions, orders of domestic or foreign courts or tribunals, non-performance of third parties, or loss of or fluctuations in heat, light, or air conditioning.
Indemnification
You agree to protect and fully compensate Facilities Provider, ABCL, ABC Companies, subsidiaries, licensors, suppliers and facilities providers, employees, officers and directors, from any and all third party claims, liability, damages, expenses and costs (including but not limited to reasonable attorneys fees) caused by or arising from your use of the facilities, your violation of the Terms of Use or your infringement, or infringement by any other user of your account, of any intellectual property or other right of anyone.
No Waiver
The Facilities Provider, ABC Companies or any of its third party service providers and processor bank/merchants etc. shall not be deemed to have waived any of its/their rights or remedies hereunder, unless such waiver is in writing. No delay or omission on the part of Facilities Providers and ABC Companies, in exercising any rights or remedies shall operate as a waiver of such rights or remedies or any other rights or remedies. A waiver on any one occasion shall not be construed as a bar or waiver of any rights or remedies on future occasions.
Exclusive Agreement
You agree that these Terms of Use are the complete and exclusive statement of agreement supersede any proposal or prior agreement, oral or written, and any other communications between you and the Facilities Provider and its Third Party Service Providers or processor bank/merchants relating to the subject matter of these Terms of Use. These Terms of Use, as the same may be amended from time to time, will prevail over any subsequent oral communications between you and the Website and/or the processor bank.
Termination
Either party can terminate this Agreement by notifying the other party in writing. Upon such termination You will not be able to use the facilities of this Website.
Governing Law and Jurisdiction
The Website specifically prohibits you from usage of any of its facilities in any countries or jurisdictions that do not corroborate to all stipulations of these Terms of Use. The Website is specifically for users in the territory of India. In case of any dispute, either judicial or quasi-judicial, the same will be subject to the laws of India, with the courts in Mumbai having exclusive jurisdiction.
These Terms and Conditions are governed by and to be interpreted in accordance with laws of India, without regard to the choice or conflicts of law provisions of any jurisdiction. You agree, in the event of any dispute arising in relation to these Terms and Conditions or any dispute arising in relation to the Website whether in contract or tort or otherwise, to submit to the jurisdiction of the courts located at Mumbai, India for the resolution of all such disputes.
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