Systematic investment plans, or SIPs, are the preferred mutual fund investment mode. These plans allow you to invest in mutual funds regularly every month. You could start your SIP investment small, which makes these plans affordable for young professionals. However, as your monthly income increases, you can also increase your investment amount. You could do so with the help of the step-up sip facility.
What is the step-up facility?
The step-up facility helps you to increase your monthly mutual fund investment amount. Professionals use this facility after enjoying increments in their monthly income. Increase your SIP investment amount with every annual bonus and hike.The power of compounding will help you in reaping higher returns. Long-term SIP investment makes market timing irrelevant. The SIP step-up calculator or increasing sip calculator can help you determine the SIP step-up investment amount.
What is a step-up SIP calculator?
A sip calculator step-up helps you determine the returns you could enjoy through the step-up SIP facility.ASIP calculator with a step-up facility calculates the value of your savings at the end of the investment tenure within seconds.
How to use these calculators?
Step-up SIP Calculators are free online tools that can help you estimate the returns through the step-up SIP facility. These calculatorsare simple to use. Here are the steps involved in using these calculators:
- Enter the monthly investment amount
- Set the time for which you wish to continue investing in the mutual fund
- Enter the rate of return you are expecting from the investment
- Modify the investment amount you would like to increase annually
What are the advantages associated with step-up calculators?
Here are the benefits of step-up SIP calculators:
- An insight into estimated returns:
You can determine the potential returns from your step-up SIP investments by using a sip step-up calculator. Before investing in a mutual fund scheme, these calculators can help you compare the returns and decide accordingly.
- The step-up percentage is helpful:
The calculator’s step-up percentage feature is helpful. You can calculate the returns for varying step-up percentages by using the feature. It can help you choose a suitable investment option according to your investment needs.
- Easy and convenient to use:
It is easy to use an online step-up SIP calculator. Enter details such as your monthly investment amount and duration, expected growth rate, and annual step-up percentage. The calculator then computes the maturity amount after analysing the inputs.
- These calculators are timesaving:
A sip calculator with a step-up can help you compute the value of investments in seconds. Using this calculator can help you save time and energy on complex calculations. These online calculators are free to use. Furthermore, you can use these mutual fund calculators multiple times for testing different scenarios.
Conclusion:
Investors nowadays prefer to know the ROI before taking any investment decisions. A step-up SIP calculator is a reliable starting point for making sensible and sound investment decisions. Reap long-term benefits by looking at different mutual fund scenarios to calculate potential returns using an online mutual fund calculator.
