What is SIP?
SIP or systematic investment plan is a methodology of investing a fixed amount of money for a specific period of time in a mutual funds scheme offered by mutual funds companies. SIP or systematic investment plan can give you higher returns as compared to recurring investments. SIP helps you to invest regularly in your desired mutual fund scheme. A SIP is based on the concept of regular investment. You can invest in your preferred fund scheme every quarter, week, or month under the SIP systematic investment plan.
What is a SIP calculator?
Myitronline SIP calculator helps you to calculate the returns on your mutual funds' investments made under SIP (systematic investment plan). A SIP investor can have the pre-idea of investing regularly to achieve his/her financial goals with the help of a SIP calculator. A systematic investment plan calculator is an easy utility tool that calculates the gains and returns on your monthly investment.
Benefits of using myitronline SIP calculator
Myitronline furnishes you lucrative systematic investment plan calculator to give you an estimation of returns on your investments. You can plan and compute an estimation of the gross value of investments at the end of your SIP investment period. Myitronline calculator gives you results with maximum accuracy and eradicates the time of manual calculation. It preserves your precious time and exuberance.
Using Myitronline SIP calculator
You can use our myitronline calculator to calculate the returns on mutual fund investments made through the SIP. Myitronline SIP calculator is easy to use with a spartan interface and can be operated from anywhere. You must know the following instructions to use the myitronline SIP calculator. Search myitronline.com and you will be redirected to our website. Scroll down to the bottom and there you will find the SIP calculator. You will see the myitronline SIP calculator and there are three sliders given in the calculator. You have to set them on the data you want to fill out in the calculator.
- Put the total investment value in the first slider.
- Fill out the expected rate of interest in the second slider as per your preference.
- In the third slider, you have to put the time period or duration of SIP.
Now, the SIP calculator will show you the total investment value, total interest value, and maturity amount
How does the SIP calculator work?
A SIP calculator functions on the following procedure
- M = P [ (1+i)^n-1 ] * (1+i)/i
Where-M is the received amount upon maturity.
Actual Price + GST Amount = Net Cost
- P is the invested amount at a regular period
N denotes the number of payments.
Actual Cost – GST Payment = Net Price
- i is the interest rate of time.
For instance, If you start investing 2000 thousand per month for the 10 years at an interest rate of 10% then the amount you will get on maturity is 4,13,104 approximately.