Axis Mutual Fund offers its investors with multiple Mutual Fund schemes and SIPs to choose from. Investors can calculate their returns easily with the help of Axis Bank SIP Calculator so that they are aware of how much monthly contribution is required to achieve their long term financial objectives.
In this article
What is a Systematic Investment Plan (SIP)?
Before delving deeper into the uses of Axis Bank mutual fund calculator, it’s imperative to have an idea of what SIP actually is. A Systematic Investment Plan is a method of investment under which you can invest a fixed amount of money in any mutual fund scheme at regular intervals (monthly or quarterly basis). It is quite similar to a Recurring Deposit (RD) in a bank; the only difference is that the money will be invested in a mutual fund scheme, which may be invested in the equity markets or debt instruments.
Most of the mutual fund houses in India including Axis Bank offer SIPS. It has proven to be a great wealth creation tool for those who want to invest in the market.
As SIPs allow you to make a small investment at regular intervals, it brings along with it financial balance and discipline to assist you in achieving your long-term goals such as retirement planning, children’s education, buying a house, etc.
How to Use Axis Bank SIP Plans Calculator?
Using this calculator is very easy; just follow the below-given steps to get the estimated returns on your investment:
Step 1: Enter the monthly investment amount you want invest or just make use of the slider to select the amount
Step 2: In this step, enter the return rate or move the slider
Step 3: Choose the investment period.
Step 4: Click on the ‘Invest now’ button.
It will show the invested amount, estimated returns and the total value. It’s that easy!
Formula for Axis Bank SIP Calculator
A = P*((1+i)^n)-1)/i)*(1+i)
A – Amount you will receive
p – SIP amount
i – compounded rate of return, which is the annual rate of return %/12
n – number of months
Benefits of Using SIP Investment Calculator of Axis Bank
- No need to perform these intricate calculations by yourself. The Axis Bank SIP Calculator will do the calculation for you.
- It’s available for free and can be used multiple times.
- The SIP Axis Bank calculator is a great tool for getting knowledge of the investment amount beforehand and lets users plan their investments efficiently.