SIP Calculation: When will you become a millionaire with 3000, 5000 and 10,000 SIPs, see the complete calculation..
SIP is the easiest way to invest in mutual funds. Apart from SIP, you can invest in mutual funds in many ways. But here we are talking specifically about SIP. Today we will know how long it takes to become a millionaire with 3000, 5000, and 10,000 SIPs (SIP Calculation). During the calculation, we will take two different minimum estimated returns of 12 and 14 percent.
Calculation
3000 SIP
If SIP of Rs 3000 is done every month in mutual funds, then, according to a 12 percent return, the investment will have to be made for 31 years. In this, you will get Rs 1,03,90,369 on maturity after 31 years. At the same time, in these 31 years, you will invest Rs 11,16,000. At the same time, the return from the mutual fund will be Rs 92,74,369.
If the return is 14%, then it will take 28 years to create a fund of Rs 1 crore. In these 28 years, you will get Rs 1,05,54,091 on maturity. Along with this, you will get Rs 95,46,091 in return in these 28 years.
5000 SIP
According to a 12% return, it will take you 27 years to create a fund of Rs 1 crore in a SIP of Rs 5000. In these 27 years, you will get Rs 1,08,11,565 on maturity. Your return will be Rs 91,91,565.
14% return
According to a 14% return, it will take 24 years to create a fund of Rs 1 crore. In these 24 years, you will get Rs 87,86,967 in return from mutual funds.
10000 SIP
If someone does a SIP of 10 thousand rupees every month, then according to a 12 percent return, it will take them 21 years to create a fund of one crore. You will get Rs 1,04,30,067 crore on maturity. At the same time, the investor would have invested Rs 25,20,000 in these years.
At the same time, according to 14 percent return, it will take you 19 years.
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