process to invest in balanced advantage fund with monthly dividend paid out
Ashish, the term “dividends” in mutual funds is misleading. Mutual funds don’t offer dividends. They either sell your units or book profits and give money to you. That’s called a dividend. The term “dividend” was renamed as " "Reinvestment of Income Distribution cum capital withdrawal option
And these “distributions” aren’t guaranteed. The AMC can choose not distribute them too. Moreover, dividends are tax-inefficient, they are taxed as per your income slab.
Also, to add to Bhuvan’s point, dividends in MF are not tax friendly.
If you really need monthly income from your MF investment, better option would be to setup systematic withdrawals. That would be much more tax friendly.