Monthly Income Plane is a hybrid debt mutual fund scheme which invests a small part of the funds (15-35 per cent) in equities. It offers regular income in the form of periodic (monthly, quarterly, half-yearly) dividend payouts. Due to the presence of equity, MIP returns can be volatile.

Since equities are involved in MIP fund, returns can be volatile depending on market movement. However, since the proportion of equity is quite low, the risk definitely lower than equity funds.