Step Up Calculator shows you how your investment will grow if you increase the SIP investment by a fixed percentage over the years. To use this calculator, all you have to do is enter the current monthly amount invested and the expected % returns of your SIP.
The calculator will then show you an estimate of what your final corpus would be after completion of the investment plan. The total amount can also help you compare various investments and even help you make an informed decision.
Step Up Calculator will help you to see what would be the Maturity value of your SIP in the future . Also it will show you all the details about your SIP, like , Total investment till that period and accrued interests from them.
What is SIP?
SIP or Systematic Investment Plan is an investment plan in mutual funds for those investors who have fewer resources but still want to invest in a disciplined way. This can be done by investing a fixed amount at regular intervals and reap the benefits of compounding in the long term.
You can start SIP in any mutual fund scheme of your choice by deciding the amount you want to invest, the date you are comfortable investing, and the scheme you wish to put your money in.
We have all been taught from childhood to save from whatever we can. Right from the monthly pocket money we use to get, we were made to save some of our earnings by our parents. One obvious reason for this was the protection against a rainy day.
However as income increases, people tend to save less and more often than not, their savings dwindle with time. Step up SIP helps you increase your monthly SIP amount periodically and thus helps you grow your wealth in an easier manner.
There are 4 types of SIP investments:-
Step Up SIP: In this investment, you can increase your investment amount periodically at - https://www.imperialfin.com/sip-step-up-calculator/
Flexible SIP: With a flexible sip, you can increase as well as decrease your investment amount. With this, you can cancel the point of skipping the SIP when there is a cash crunch. As well as you can make more contributions when you have excess funds with you.
Perpetual SIP: you do not have to choose the end date. You can stop and redeem the fund whenever required or when your financial goal is achieved.
Trigger SIP: delivers the authority to select the NAV, index level, SIP start date or event, etc. Trigger SIP is not highly advisable as it encounters some danger while monitoring such benchmarks.
With Step Up SIP, you can increase your investment amount every year. This spreads out the financial burden, as the step up feature lets you increase the installment amount by a designated percentage every year