Big goals can be achieved by making small savings. If you invest 1000 rupees every month in Systematic Investment Plan (SIP) in mutual funds, then you can become a millionaire. Mutual funds have been giving excellent returns in the last two decades. Some funds are giving returns up to 20 per cent.
SIP Calculator: Every person should save for future. Some people make small savings and some want big returns. Therefore, deposit it every month in the bank and post office. If you also want more return on less investment then SIP in Mutual Fund can be a great option. Mutual funds have been gaining popularity in the last few years. Because the money invested by the investors is giving good returns. You can get more than 2 crore returns by depositing 1000 rupees every month. However, it takes more time to do this. Let us know how much interest is available in SIP in mutual funds and for how much time one has to deposit it.
Higher returns from banks and post offices
Usually people get FD done in banks and post offices for safe investment. However, it does not give much return. If you deposit 1000 rupees per month in a bank or post office for 20 years. During this period you get Rs 2.40 lakhs. If you deposit the same amount in mutual funds, then you get more benefits.
1000 every month
Should be deposited in SIP in mutual funds for safe investment with high profits. You can achieve big goals by starting low investment. 1000 is not a big amount in today’s time, anyone can save that much money. One can become a millionaire by investing Rs 1000 every month in a Systematic Investment Plan (SIP) in mutual funds. Some funds have given returns up to 20 per cent.
You will get this much return in 20 years
if you invest 1000 rupees a month for 20 years. If you get 12 percent return on this, then after 20 years you get a total of Rs 9,99,148. In 20 years, you would have accumulated a total of Rs 2,40,000. If you get 15 percent return on investment then you get more than 15 lakhs (Rs 15,15,995). On the other hand, if you get 20 percent return, then after 20 years on investment of 1000 rupees, you get Rs 31,61,479.
2.33 crore after 30 years
If you want more return on investment then you have to deposit 1000 rupees for 30 years. After 30 years on SIP of 1000 rupees, Rs 35,29,914 is available according to 12 percent return. If the interest is a little higher, at the rate of 15%, Rs 70 lakh is available. Depositing 1000 rupees every month gives a return of 20 percent, then after 30, you will get Rs 2,33,60,802 (more than 2 crores). In 30 years, you will deposit only 3 lakh 60 rupees.
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