How to invest my FD maturity amount to get a fixed amount every month

Your decision of not renewing the fixed deposit on maturity is a correct one. The interest rate on fixed deposits have come down recently and the rates are set to fall further in the coming months due to demonetization effect.

You are only 27 and even if your risk taking ability is moderately high to high, you can create good amount of wealth over long term if you invest in mutual funds. Though, why you want to have a regular income from the investment of Rs. 10 Lakhs is not clear to us.

Anyways, considering your age you can invest in equity or balanced mutual funds and withdraw a fixed amount monthly. It is preferable, if you start the monthly fixed withdrawal after one year. In that case, the amount received from the withdrawal will be totally tax free under long term capital gain tax.

We have done few articles on this topic reading which will help you further – A smart option for getting regular income from your balanced fund investments https://www.advisorkhoj.com/articles/Mutual-Funds...

Also check the following examples to understand how the SWP returns were in case of these 3 balanced funds -

Birla Sun Life balanced fund https://www.advisorkhoj.com/articles/Mutual-Funds...

SBI magnum balanced fund https://www.advisorkhoj.com/articles/Mutual-Funds...

ICICI Prudential balanced fund https://www.advisorkhoj.com/articles/Mutual-Funds...

To find out which are the top SWP funds in each category, please go through this tool - https://www.advisorkhoj.com/mutual-funds...

Therefore, if your convinced about the SWP concept, you can invest the amount of Rs. 10 Lakhs in a balanced fund or equity fund and after one year start withdrawing a fixed amount (not more than Rs. 8,300 per month, assuming 10% withdrawal per year) every month on a fixed date. To withdraw the SWP amount, you will have to submit a SWP request form to the AMC where your amount is invested in the equity or balanced fund.

Hope the above helps.

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