Mutual Fund SIP for Rs 30 lakh (calculation): This article looks at how much time and investment it may take to accumulate Rs 30 lakh with SIP
Mutual Fund SIP for Rs 30 lakh (calculation): Investing in a mutual fund SIP plan is considered an effective way to accumulate wealth in the long term. With the help of a Systematic Investment Plan (SIP), you can invest a fixed amount on a monthly, weekly, bi-monthly, quarterly, half-yearly or yearly basis in an organised and disciplined way.
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This article looks at how much time and investment it may take to accumulate Rs 30 lakh from your monthly SIP investment, assuming 12% annual returns, as per FundsIndia’s ‘Wealth Conversations Report’ for April 2023.
In the last few years, several mutual funds have given high annualised returns of over 12%. However, investors should always talk to their financial advisors to understand the best fund that will be suitable for them as per their financial goals.
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Rs 10,000 SIP: Monthly SIP of Rs 10,000 will help you reach Rs 30 lakh in 11 years and 7 months at 12% CAGR.
Rs 20,000 SIP: Monthly SIP of Rs 20,000 will help you reach Rs 30 lakh in 7 years and 8 months at 12% CAGR.
Rs 25,000 SIP: Monthly SIP of Rs 25,000 will help you reach Rs 30 lakh in 6 years and 7 months at 12% CAGR.
Rs 30,000 SIP: Monthly SIP of Rs 30,000 will help you reach Rs 30 lakh in 5 years and 10 months at 12% CAGR.
Rs 40,000 SIP: Monthly SIP of Rs 40,000 will help you reach Rs 30 lakh in 4 years and 8 months at 12% CAGR.
Rs 50,000 SIP: Monthly SIP of Rs 50,000 will help you reach Rs 30 lakh in 3 years and 11 months at 12% CAGR.
Rs 75,000 SIP: Monthly SIP of Rs 75,000 will help you reach Rs 30 lakh in 2 years and 10 months at 12% CAGR.
Rs 1 Lakh SIP: Monthly SIP of Rs 1 lakh will help you reach Rs 30 lakh in 2 years and 3 months at 12% CAGR.
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(Disclaimer: The above content is for information purposes only. There is no assurance or guarantee that a mutual fund scheme will give 12% annual returns in future. Please consult your financial advisor before investing)
