The residual stress in the electroplated magnetic films is an important factor that limits the functionality of many micromagnetic devices. We have investigated the stress in electroplated Ni-Fe alloy for MEMS as a function of bath concentration, utilizing the wafer-bending method. Our investigation demonstrated that a low-concentration plating solution decreases the residual stress in the electrodeposits, and the stress is further decreased by increasing the saccharin additive content. We obtained the low-stress Permalloy Ni81Fe19 in our experimental conditions. We fabricated a bistable electromagnetic RF MEMS switch with deformation-free cantilever beam using the electroplated Permalloy.