Canara Robeco SIP is India’s second oldest management company and the most efficient way to invest in Mutual Funds. Systematic Investment Plan or SIP returns are calculated according to compound interest. One can calculate it using the Canara Bank SIP calculator in a hassle-free manner. Started as CanBank Mutual Fund in 1993 ,in 2007, Canara Bank entered into a joint venture with Robeco group, and it was renamed as Canara Robeco Mutual Fund. Today, it manages the wealth of over 9 lakh investors.
What is SIP and What are its Advantages?
SIP is one of the most affordable investment methods in which one can start investing in mutual funds with as low as just INR 500. This fixed amount can be invested at regular intervals (monthly or quarterly basis). For investors planning to invest in Equity Funds, SIP is the ideal way. At any point of time, if you want to check the estimated returns, Canara Bank mutual fund calculator has always got your back. With a SIP, one can also plan their financial goals like Retirement planning, marriage, getting a new house/car, higher education, etc.
How to Use the Canara Bank SIP Plans Calculator?
One can easily figure out the right financial amount required to achieve their financial Goal through the Canara Robeco SIP Calculator with these simple steps:
Step 1: Enter the monthly investment amount you want to invest or just move the slider provided 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!
What Formula is used to Calculate Canara Bank SIP returns?
A = P*((1+i)^n)-1)/i)*(1+i)
A is the Amount you will receive
p is the SIP investment amount
i is the compounded rate of return, which is the annual rate of return %/12
n is the number of months
Advantages of Using Canara SIP Calculator
- A SIP calculator helps you get the estimated results, which is fundamental to taking calculated risks. All you have to do is provide the details like your monthly investment amount, tenor and expected rate of return to gain the estimated results of your total invested amount, total maturity amount and the earning on the investment.
- Not confined to showing the estimated returns, the Canara Bank SIP calculator gives you the results way quickly than manually calculating the same.
- You can forecast your investment plans beforehand and look at different outcomes which ultimately helps you to invest wisely.