Normal SIP or Step-up SIP, where will you get more profit if you start investing Rs 5000 every month, see calculation

To invest in mutual funds, you can invest through normal SIP and step-up SIP. In such a situation, let us know how you can earn more profit by investing.

Whenever it comes to investing money, most people prefer to invest their money in bank FD, but now people are gradually preferring to invest in mutual fund SIP instead of bank FD. By investing in mutual funds through SIP, you can collect a good fund. Investment in mutual fund SIP is linked to the market but if you invest here for a long time, you can get good returns without risk. By investing in SIP, you can get an average return of 12 percent.

To invest in mutual funds, you can invest through normal SIP and step-up SIP. In normal SIP, you have to invest a fixed amount every month. Whereas in step-up SIP, you have to increase your investment by 10 percent every year. In such a situation, let us know how you can earn more profit by investing.

Return in normal SIP of Rs 5000

If you invest Rs 5000 every month in SIP and you invest it continuously for a long time i.e. 20 years, then you will invest a total of Rs 12,00,000. At the rate of 12 percent, you will get Rs 45,99,287 on maturity. In such a situation, you will get a total profit of Rs 33,99,287.

Return in step-up SIP of Rs 5000

In step-up SIP, you have to invest Rs 5000 in the first year and Rs 5,500 every month next year. This investment will grow at the rate of 10 percent every year. In this case, you will invest a total of Rs 34,36,500 in 20 years. At the rate of 12 percent, you will get Rs 93,15,692 on maturity. In this case, you will get a total profit of Rs 58,79,192.

Many times people take personal loan from the bank to fulfill their needs, but later it becomes very difficult for them to pay the EMI of the loan. On the other hand, due to the high interest rate, the EMI of this loan is also high. In such a situation, it becomes even more difficult for some people to pay monthly EMI. Today we will tell you about some such methods, by adopting which you can reduce the monthly EMI of your personal loan. Let's know.

Transfer your loan to another bank

Recently RBI has cut its repo rate, after which the interest rates of loans of different banks have also come down. In such a situation, if you want, you can transfer your loan to another bank, which has lower interest rates. In this way your monthly EMI can be reduced. However, you will have to pay a charge for loan transfer.

Increase the loan period

If you are not able to pay the monthly EMI of your personal loan, then you can increase the loan period. This will reduce your EMI. However, you will have to pay more interest due to this.

Use your savings

You can pre-pay some part of your personal loan using your savings. For this, reduce your expenses and pay more attention to savings. You can also reduce your monthly EMI by pre-paying the loan.