Can you become a millionaire with a SIP of Rs 1000? Of course, you just have to invest for this much time..

Mutual funds have become a very popular platform for investment today. Through mutual fund SIP, you can start investing from Rs 100. These are better because you do not have to pay a lump sum of money to get good returns. Along with this, there is a chance of getting more returns than any safe scheme.

However, it is worth noting that the return received under mutual funds depends on the fluctuations in the market.

First of all, we know how you can accumulate a fund of up to Rs 1 crore from a SIP of Rs 1000.

Calculation
Investment amount - Rs 1000 per month
Return - 16 percent
If a person does a SIP of Rs 1000 or pays installments, then, according to a 16 percent return, he will have to invest for 33 years to create a fund of Rs 1 crore. In these 33 years, you will get Rs 1,08,20,127 on maturity. However, this return depends on the fluctuations in the market.

Here you can get more than 16% return.

Fund Return (in one year) Expense Ratio

Aditya Birla SL Intl. Equity Fund 28.11% 2.07%
WOC Pharma and Healthcare Fund 28.09% 0.68%
HDFC Pharma and Healthcare Fund 27.70% 0.86%
ICICI Pru NASDAQ 100 Index Fund 26.02% 0.61%
Motilal Oswal Multi Cap Fund 26.02% 0.55%

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