How much do you need to save per month for a target corpus?
Use this calculator to find the monthly SIP required for a specified duration at the expected interest rate for building a target corpus.
SIP is the latest trend in the mutual fund industry. As the name suggests, SIP is investing a fixed amount systematically at regular intervals in a fund. The amount is typically debited automatically from the bank account on the pre-determined date. Due to its systematic nature, the SIPs have much more to offer than only tax savings. Read on how!
A SIP is offered in an open-ended mutual fund which has the flexibility to be altered, continued or stopped anytime. You can choose to extend your period of investment also. All you need to do is determine your objective, understand your horizon, risk appetite, enter your monthly amount and select the fund. Then you need to select the date on which the amount can be debited.
Based on the inputs and prevailing NAV, the units are allocated. Next month onwards, your bank account is auto-debited on the date selected, and you get the additional units credited to your account depending on the NAV of that day.
Step 1: Choose the target corpus you want to achieve.
Step 2: Choose the investment period.
Step 3: Choose the Annual Investment Return (%).
Step 4: Click on Calculate button.
At Orowealth, to make life simpler for our customers, and readers, we have designed and developed SIP calculator that enables to you how to plan for your financial goals.
Let us elucidate in detail the feature of SIP calculator and how it can benefit you.
All you need to do is enter the following –
So in the above calculation, assume you need to accumulate Rs 1 lakh in one year’s time, and you expect 10% returns annually. Thus, you need to invest Rs 7911.06 per month to achieve your goal.
Not really. We have more for you. If you want to plan your vacation next year, compute today how much you need to save every month for that. Check out Vacation Calculator . Additionally, we offer EMI Calculator, Marriage Calculator, Retirement Calculator among others.
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The information contained herein is only to enable the Investor (or Lender) to make an informed decision. Any decision taken by the investor on the basis of this information is the sole responsibility of the Investor (Lender) and Orowealth is not liable. Orowealth has partnered with a third party platform regarding investments in various alternative investment opportunities. Orowealth will not be responsible for the full or partial loss of the principal and/or interest of the investor’s investment. Orowealth is only an intermediary introducing these third party services and is not responsible for any agreement you sign with the third party.
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