In India Saving money is among Indians' essential habits. One of the economic sectors in India that has grown the fastest over the past three decades is the mutual fund industry, which has incredible potential for ongoing, significant growth. Retail investors can easily,affordably, and conveniently save and invest with mutual funds. The purpose of this paper is to evaluate and understand an investor's perception and preference towards mutual funds by evaluating the literature on retail investor behavior based on income class people towards mutual funds based on available literature from past research papers. Identifying the key players is one of the crucial goals.One of the key goals is to pinpoint the gaps in the literature and offer potential directions for future research in income-class investors. Investment attitude towards mutual funds as a form of investment.The results will also be helpful to Mutual Fund companies in identifying the areas that need improvement and in helping them tweak their marketing plans.