Prospective investors may believe that mutual funds and SIPs are interchangeable. SIPs are only one way to invest in mutual funds; the other is to make a lump sum purchase. A STEP UP SIP calculator is a tool that aids in calculating the returns available when investing money in such gadgets. The systematic investment plan, or SIP, is a method for periodically investing a certain amount of money in mutual funds. You can often invest weekly, quarterly, or monthly using SIPs.
A STEP UP SIP Calculator is a straightforward tool that enables people to estimate the returns on their SIP-based mutual fund investments. Mutual fund SIP investments have recently risen to the top of millennials list of investment choices.
These calculators for mutual fund sip are made to provide prospective investors with an estimate of their mutual fund investments. The actual returns provided by a mutual fund plan, however, vary based on a number of variables. The exit load and expense ratio (if any) are not explained by the STEP UP SIP calculator.
The wealth increase and anticipated returns for your monthly STEP UP SIP investment are calculated using this calculator. In fact, based on a predicted yearly return rate, you receive a preliminary estimate of the maturity amount for each of your monthly SIPs.
What advantages can a SIP return calculator offer you?
Many mutual fund experts believe that SIPs are a more profitable way to invest money than a flat sum. It assists you in developing sound money management skills and a saving habit that will be useful to you in the future.
Online STEP UP SIP calculators are useful tools that provide estimates of your future returns on investment.
A few advantages of STEP UP SIP calculators are as follows:
STEP UP SIP plan formula:
M = P × (([1 + i]^n – 1) / i) × (1 + i).
In the formula above,
Consider the scenario where you desire to invest Rs. 1,000 each month for a year at an interest rate of 12%.
12%/12 = 1/100 = 0.01 will then be the monthly rate of return.
M is therefore equal to 1,000 × ([1 +0.01]12 - 1 / 0.01) x (1 + 0.01).
This yields almost Rs 12,809 in a year.
The interest rate on a STEP UP SIP will vary depending on the state of the market. The expected returns could change depending on whether it rises or falls.
With a few clicks, you can utilise StockGro's STEP UP SIP amount calculator.
Simply input the monthly invested amount (the amount for which you initiated the SIP), the desired investment duration in years, and the projected rate of return.
The calculator will display the projected amount you can get once your investment term is over as soon as you enter the value.
The finest STEP UP SIP calculator is provided by StockGro, and it delivers the benefits listed below: