SIP calculation: Mutual Fund Systematic Investment Plan (SIP) is considered an excellent option for generating wealth in the long term.
Read More:– Tata Steel Shares Gain Ahead of Q4 Results; Key Things Investors Should Know
SIP calculation: Mutual Fund Systematic Investment Plan (SIP) is considered an excellent option for generating wealth in the long term. Through SIP, you can invest a fixed amount on a monthly, weekly, bi-monthly, quarterly, half-yearly or yearly basis. Let’s have a look at how much you will need to invest to get Rs 10 lakh fast with the help of Mutual Fund SIP, assuming 12% annual returns, as per FundsIndia’s ‘Wealth Conversations Report’ for April 2023.
Read More:– Mankind Pharma IPO: Check GMP, Listing Date And Other Details
It should be noted that several mutual funds have given high annualised returns of over 12% in the long term for several years. Also, investors should consult their financial planners to find the best fund suitable for them as per their financial goals.
Rs 10,000 SIP: A monthly SIP of Rs 10,000 will help you reach Rs 10 lakh in 5 years and 10 months at 12% CAGR.
Rs 20,000 SIP: A monthly SIP of Rs 20,000 will help you reach Rs 10 lakh in 3 years and 5 months at 12% CAGR.
Rs 25,000 SIP: A monthly SIP of Rs 25,000 will help you reach Rs 10 lakh in 2 years and 10 months at 12% CAGR.
Rs 30,000 SIP: A monthly SIP of Rs 30,000 will help you reach Rs 10 lakh in 2 years and 5 months at 12% CAGR.
Rs 40,000 SIP: A monthly SIP of Rs 40,000 will help you reach Rs 10 lakh in 1 year and 11 months at 12% CAGR.
Rs 50,000 SIP: A monthly SIP of Rs 50,000 will help you reach Rs 10 lakh in 1 year and 7 months at 12% CAGR.
Rs 75,000 SIP: A monthly SIP of Rs 75,000 will help you reach Rs 10 lakh in 1 year and 1 month at 12% CAGR.
Read More:– Why GST Sees Highest-Ever Collection In April 2023? Experts Say This
Rs 1 Lakh SIP: A monthly SIP of Rs 1 lakh will help you reach Rs 10 lakh in 10 months at 12% CAGR.
