Mutual Fund SIP: People living in India have many options available for investment. Bank FD, PPF, NPS, NSS, Mutual Fund SIP etc. are some of the favorite investment plans in which a lot of investment is being made. There was a time when investing in mutual funds used to be very complicated. But now many stock broking platforms have made mutual fund investment very easy. This is the reason why mutual fund investment is growing rapidly now compared to earlier.
Mutual funds can give you huge profits in the long term
Mutual fund investment is subject to market risks. But despite these risks, the common investors of the country are investing in mutual funds to get attractive returns. AMFI data shows that mutual funds have given huge profits to investors in the long term. The most special thing about mutual funds is that along with attractive market returns, it also provides the benefit of compounding. Today we will know here how one can become a millionaire with a mutual fund SIP of Rs 10,000.
How much money will be earned with 12 percent annual interest
Calculating with the online SIP calculator, it is known that if you do a SIP of Rs 10,000 every month, you can easily become a millionaire. If you get an estimated 12 percent annual interest on doing a SIP of Rs 10,000 every month, then you can make Rs 99,91,479 in 20 years.
If you get 15% interest, then consider yourself rich
If you get an estimated interest of 15 percent instead of 12 percent every year, then your SIP of Rs 10,000 every month can create a strong fund of Rs 1,51,59,550 crore in 20 years. Let us tell you that if you do a SIP of Rs 10,000 every month for 20 years, then your total investment will be only Rs 24 lakh, on which you will get attractive market returns and full benefit of compounding.
Latest Business News
