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What is SIP?
SIP (Systematic Investment Plan) is a method of investing in mutual funds where you invest a fixed amount regularly (monthly, quarterly, etc.) instead of investing a lump sum at once. It helps in averaging the cost of investment over time and removes the need to time the market.
SIP Formula
FV = P × [((1 + r)^n - 1) / r] × (1 + r)Where:
- FV = Future Value (Maturity Amount)
- P = Monthly SIP Amount
- r = Monthly rate of return (Annual rate ÷ 12 ÷ 100)
- n = Number of months (Investment period × 12)