highlights
In Step Up SIP, you definitely increase the investment every year.
It can also be any percentage of existing SIP.
The higher the tier, the greater your deposit amount and returns.
New Delhi. If you want to make profits by investing money in the stock market through mutual funds, then SIP i.e. H. Systematic investment planning, a simple and straightforward method. You gradually give your money to a fund manager, over a long period of time the money you give increases many times over with the returns. Now there is another way to increase this money. Step SIP can increase your total return by several percent.
Let’s try to understand it in detail. Suppose you invest 20,000 rupees in SIP every month. In return, you get an annual return of 12%. After 15 years, your total investment is Rs 38,63,255. You will get a return of around 61,55,333 rupees for it. That means after 15 years you can raise around 1.18 crores of capital with a monthly SIP of 20,000 rupees.
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What will SIP do?
With Step SIP, you decide to increase a fixed amount every year. For example, you make SIP of 20,000 now and increase it by 5% next year. You can increase it as much as you like. The higher the level, the more funds are available. Now let’s calculate these numbers using step up SIP. Let’s say you want to top up 10% every year, how much money are you going to raise after 15 years with a monthly SIP of 20,000 rupees. With Step Up you would invest a total of Rs 1,14,19,299 in 15 years. On this you get a return of Rs 1,08,41,716. In total you now have a fund of Rs 2,22,61,014.
Who should invest in Step SIP?
If you have a steady source of income and can increase your investment by a few percent every year, then invest in step up SIP. It is not necessary that only those who are familiar with the world of mutual funds invest in it. A new person can also opt for Stepup SIP. You can invest in Step Up SIP through Groww, Zerodha or any other broker.
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Tags: make money, investment and return, investment tips, Tips for making money, Investment funds, Gulp, Systematic Investment Plan (SIP)
FIRST RELEASED : March 18, 2023 2:59 PM IST
