It is not difficult to become a millionaire through SIP. You can become rich by saving a small amount. However, for this you will have to be patient. If you do not do this, then you will not be able to get huge returns.
SIP has become increasingly popular among small investors. The reason for this is the creation of a big fund from a small investment and bumper returns. Therefore, the number of investors investing in mutual funds through SIP has increased rapidly. Today we are telling you that if you invest Rs 2000, 3000, 5000 per month in SIP, then in how many years will you accumulate Rs 1 crore?
Example-1: Monthly SIP of Rs 5,000
Rate of return: 15%
Total investment in 28 years: Rs 6,72,000
Return: Rs 96,91,573
Estimated total money: Rs 1,03,63,573
Thus, if you invest Rs 2,000 per month, it will take 28 years to accumulate more than Rs 1 crore.
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Example-2: Monthly SIP of Rs 3,000
Rate of return: 15%
Total investment in 26 years: Rs 9,36,000
Return: Rs 1,05,39,074
Estimated total money: Rs 1,14,75,074
Thus, if you invest Rs 3,000 per month, it will take 26 years to accumulate more than Rs 1 crore.
Example-3: Monthly SIP of Rs 5,000
Rate of return: 15%
Total investment in 28 years: Rs 13,20,000
Return: Rs 90,33,295
Estimated total money: Rs 1,03,53,295
Thus, if you invest Rs 2,000 per month, it will take 22 years to accumulate more than Rs 1 crore.
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