SIP Calculator (INR)
To calculate your SIP returns in Indian Rupees, you can use an online SIP calculator. Here's how it works:
How to Use a SIP Calculator
1. *Choose Your Investment Amount*: Decide how much you want to invest each month, starting from as low as ₹500.
2. *Select Investment Tenure*: Choose your investment period, ranging from 1 to 50 years.
3. *Expected Rate of Return*: Enter the expected rate of return, which can range from 1% to 100%.
Benefits of Using a SIP Calculator
- *Estimate Future Value*: Get an idea of the returns on your investment.
- *Financial Planning*: Plan your investments according to your financial goals.
- *Time-Saving*: Get accurate results instantly, saving you time and effort.
SIP Calculator Formula
The formula used to calculate SIP returns is:
M = P × ({[1 + i]^n – 1} / i) × (1 + i)
Where:
- M = Maturity amount
- P = Monthly investment amount
- n = Number of payments
- i = Periodic rate of interest
Examples of SIP Calculators
Some popular SIP calculators in India include ¹ ² ³:
- *ICICI SIP Calculator*: Offers estimated returns based on investment amount, tenure, and rate of return.
- *SBI SIP Calculator*: Provides estimated returns and wealth gain based on investment amount and tenure.
- *BOI SIP Calculator*: A simple online tool to calculate future value of monthly SIP investments.
You can explore these calculators on websites like Groww, ICICI, SBI, or BOI Bank. Simply enter your investment details, and the calculator will provide you with an estimate of your returns ⁴ ¹ ².