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How to become crorepati by SIP: You may get Rs 1 crore, Rs 5 crore and Rs 10 crore in 10, 15, 20 years by investing these amounts
Mutual Fund SIP: Want to become a crorepati? Investing in a Mutual Fund SIP may help in the long run. Though fraught with market risks, Mutual Fund SIPs come across as one of the most popular investment avenues.
Mutual Fund SIP: Want to become a crorepati? Investing in a Mutual Fund SIP may help in the long run. Though fraught with market risks, Mutual Fund SIPs come across as one of the most popular investment avenues promising a handsome return in the long run. As compared to government-backed savings schemes like Fixed Deposits and Public Provident Fund (PPF), a well-performing Mutual Fund generally gives a higher rate of return. Mutual Fund SIP lets an investor set aside a fixed amount of money at regular intervals (weekly, monthly, and quarterly) for capital appreciation in the longer run. Here's a look at what it may take to generate Rs 1 crore, Rs 5 crore and Rs 10 crore over a period of 10, 15 and 20 years through Mutual Fund SIP. You can also make such a calculation on online SIP calculators.
But first, a few assumptions:
Let us assume that the average rate of return remains a moderate 12% per annum over the entire investment period. Secondly, you continue to make the investment regularly.
Rs 1 crore
SBI Mutual Fund calculator shows that a person would need to make a monthly investment of Rs 43,041/month for getting Rs 1 crore in 10 years. For this amount in 15 years, you will need to invest Rs 19,819/month and Rs 10,009 in 20 years.
Rs 5 crore
The online calculator shows that a person would need to make a monthly investment of Rs 2,15,203/month for getting Rs 5 crore in 10 years. For this amount in 15 years, you will need to invest Rs 99,093/month and Rs 50,043 in 20 years.
Rs 10 crore
The online calculator shows that a person would need to make a monthly investment of Rs 4,30,405/month for getting Rs 10 crore in 10 years. For this amount in 15 years, you will need to invest Rs 1,98,186/month and Rs 1,00,085 in 20 years.
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Mutual Fund investments are subject to market risks. Hence, you should go through the details carefully before making an investment. You can also explore taking advice from a certified advisor to meet your financial needs.
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