Mutual Fund SIP Calculator: SIP Mutual Funds have become very popular in the recent past. SIP investors are increasing very fast. SIP is considered very good in terms of wealth creation. Know how many years it will take you to become a crorepati if you invest Rs 10,000 every month in it.
Mutual Fund SIP Calculator: If you dream of becoming a crorepati, then in today’s time it is not a big deal to fulfill this dream. If you have an understanding of savings and investment, then you can make yourself a crorepati in a few years. Although nowadays there are many schemes in which you can invest and add a good amount of funds. But SIP Mutual Funds have become very popular in the recent past. SIP investors are increasing very fast. SIP is considered very good in terms of wealth creation. Let us tell you how many years it will take you to become a crorepati if you invest Rs 10,000 every month in it.
First know why SIP has become the favorite option of investors?
The reason for the rapidly increasing popularity of SIP is the various features of this scheme. Despite being market linked, this scheme is less risky than investing directly in shares. You can start SIP even by making small savings. You can increase or decrease the amount according to your needs and if needed, you can also pause it for some time.
Apart from all these features, the thing that is making SIP increasingly popular is the return it gives. Being a market linked scheme, it does not give guaranteed returns, but in the long term its average return is considered to be 12 percent, which is much better than any government scheme. Due to the benefit of compounding, there is a good benefit in SIP in the long term and you are able to create wealth rapidly.
Also Read- ICICI Bank has revised the interest rates of FD, check new interest rates here
When will SIP of Rs 10,000 make you a millionaire
If you invest Rs 10,000 every month in mutual funds through SIP and continue this investment for 20 years, then your total investment will be Rs 24,00,000. At the rate of 12 percent interest, you will earn Rs 75,91,479 and you will get a total of Rs 99,91,479, i.e. almost Rs 1 crore.
But if you continue this SIP for 1 more year, i.e. for 21 years, then you will invest Rs 25,20,000 in 21 years. If calculated at the rate of 12 percent return, you will get Rs 88,66,742 as interest. In this way, in 21 years you will become the owner of Rs 1,13,86,742.
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