From which fund should I opt for mutual fund SWP

We have two suggestions to make -

1. Drawing Rs 1.40 Lakhs from an investment of Rs 1.20 Crores is bit high. We suggest that during the initial years of your SWP investments, you should not draw more than 8-9% annually as you would like to have some capital appreciation too in the long run. Therefore, my suggestion is that you should not draw more than Rs 80-90,000 a month.

2. As you do not want to invest in equity mutual funds, we may suggest you to invest either in hybrid aggressive funds or dynamic asset allocation funds. These funds carry lesser risk as they invest in both, debt and equities. You can see the return of these funds below -

5 year return of hybrid aggressive funds https://www.advisorkhoj.com/mutual-funds-research...

5 year return of dynamic asset allocation funds https://www.advisorkhoj.com/mutual-funds-research...

You may also read about how SWP works in mutual funds -

https://www.advisorkhoj.com/miraeasset...

https://www.advisorkhoj.com/licmf...

Hope the above is helpful.