- Date : 01/09/2023
- Read: 3 mins
A 5% increase in mutual fund investment can bring you closer to having a return of Rs. 5 crores by approximately 3 years.
A 5% increase in your appraisal may not seem much, but a 5% SIP step up can have a big impact on your timeline of becoming a millionaire. Before you look for the latest mutual fund news or use a SIP calculator, it's important to note that a simple difference of 5% can potentially bring you approximately 3 years closer to your goal. Want to know more about the monthly SIP returns from a 5% increase? Read on!
Highlights:
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Mutual fund SIP is one of the common investments made by investors across the world.
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A 5% appraisal can make a tremendous difference for your mutual fund SIP returns.
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Investors can reduce the timeline of reaching their Rs. 5 crores goal by 3 years with a SIP step up of 5%.
Mutual fund SIP calculator – 5% SIP step up on Rs. 10,000
Investing Rs. 10,000 monthly in a mutual fund SIP could accumulate Rs. 5 crores in around 33 years at a 12% interest rate. Employing a 5% SIP step-up could potentially help you achieve this milestone in under 30 years.
Mutual fund SIP calculator – 5% SIP step up on Rs. 20,000
Investing Rs. 20,000 monthly in a mutual fund SIP could potentially accumulate Rs. 5 crores in around 27 years at a 12% interest rate. Utilising a 5% SIP step-up might accelerate this achievement to approximately 24 years.
Also Read: What is a mutual fund SIP calculator?
Mutual fund SIP calculator – 5% SIP step up on Rs. 30,000
A monthly mutual fund SIP amount of Rs. 30,000 can earn you Rs. 5 crores in 25.5 years with a 12% interest rate. An SIP step up of 5% can help you earn it in approximately 23 years.
Mutual fund SIP calculator – 5% SIP step up on Rs. 50,000
Investing Rs. 50,000 monthly in a mutual fund SIP could potentially accumulate Rs. 5 crores in around 20 years at a 12% interest rate. A 5% SIP step-up might accelerate this achievement to approximately 18 years.
Mutual fund SIP calculator – 5% SIP step up on Rs. 100,000
Investing a monthly mutual fund SIP of Rs. 100,000 has the potential to accumulate around Rs. 5 crores in approximately 15 years at a 12% interest rate. Enabling a 5% SIP step-up could potentially achieve this goal in roughly 13 years.
Also Read: Basics of mutual fund SIP
In summary
To sum up, a seemingly small 5% increment in your appraisal can significantly influence your journey toward becoming a millionaire through a 5% SIP step-up. This subtle shift can potentially bring you closer to your goal by around 3 years.
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