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ICICI SIP Calculator

ICICI SIP Calculator 2019 – Calculate Your ICICI SIP Returns Online

Systematic Investment Plan or SIP is a Mutual Fund investment plan. A general misconception is that Mutual Funds and SIP are the same. However, Systematic Investment Plan is only one of the two investment procedures employed for investing in Mutual Funds; the other being a lump-sum investment.

Through SIP, you can start investing with a minimum of Rs. 500 every month. It allows you the privilege of wealth appreciation over a period with significant market volatility adjustment benefit, unlike lump-sum investment. It is ideal for novice and small scale investors as you can employ only a little portion of your disposable income, thus eliminating any form of financial burden.

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You can calculate your estimated returns from SIP investments using the ICICI SIP calculator.

How can SIP Calculator from ICICI Benefit You?

ICICI is currently the third-largest private sector bank in India in terms of market capitalisation. It has been a renowned financial institution in the country over the last two decades and has mustered a substantial reputation for its state-of-the-art banking and other financial services.

The ICICI Bank SIP calculator allows you following benefits –

  • Trustworthy estimation: Although calculators cannot possibly estimate exact returns you will be earning through your SIP investments owing to market volatility, the ICICI SIP calculator can provide return figures which are near about accurate. Therefore, you can invest with more certainty.
  • Easy to use: An SIP calculator is easier to use and far more convenient in comparison to manual calculation.
  • Ideal for first-timers: Novice investors who have limited knowledge of market metrics can also use the ICICI Mutual Fund SIP calculator. Its usage is simple to understand and only requires basic specifics pertinent to investment – amount to be invested, rate of return offered on Mutual Funds, and the tenure for which he/she decides to continue investments.

How Does an ICICI SIP Calculator Work?

The following is the formula for calculation of the maturity value from SIP investments –

M = P * [{(1 + i) ^ N – 1} / i] * (i + 1)

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In the formula –

  • M is the appreciated amount on maturity.
  • P is the SIP investment made periodically.
  • N is the period in months for which you plan to continue the investment.
  • i is the rate of return offered on the Mutual Funds.

The ICICI Prudential SIP calculator integrates this formula mentioned above for calculation.

Example: Mr L decides to invest in 14% ELSS Funds through SIP, with a monthly investment of Rs. 5000. He plans to continue the investment for 10 years.

Therefore, M = 5000 * [{(1 + 0.14) ^ 120 – 1} / 0.14] * (0.14 + 1)

Or, M = Rs. 13,10,000

The total amount invested by Mr L across 10 years was Rs. 6 Lakh and the returns from the same excluding the principal amount stands at Rs. (13,10,000 – 6,00,000), i.e. Rs. 7,10,000.

You can use an ICICI SIP calculator to gauge the returns with different variables, i.e. investment tenure and principal amount, and select the combination which is financially convenient and ideally complements your investment objective.

You can also peruse through other Mutual Funds that offer a higher rate of return. However, MFs with a higher rate of return entails considerably larger risk.

The following table demonstrates the returns Mr L will be earning if he opts for different investment tenures keeping other factors constant.

Number of YearsAmount Invested (Rs.)Value on maturity (Rs.)
53,00,0004,40,000
84,80,0008,90,000
127,20,00018,70,000
159,00,00030,60,000
1810,80,00048,80,000

Mutual Funds reap much higher profits over longer tenure compared to other forms of investment. The scope for aggressive capital appreciation is vast in case of Mutual Funds.

Benefits of Using the Groww ICICI SIP Calculator

Using the Groww SIP calculator allows you the following benefits –

  1. Free: The Groww ICICI Bank SIP calculator is free to use and does not require Groww registration.
  2. Convenient: As Groww is a Mutual Funds aggregator, you can peruse through a vast volume of MF options on the website itself, note the rate of return offered across them, and then visit the Groww ICICI Prudential SIP calculator page to gauge your estimated returns. It provides the convenience of not changing websites and completing the whole process of investing in Mutual Funds through SIP at one place.
  3. Mobility: You can use the SIP calculator across devices such as mobiles, personal computers, and tablets. It offers the flexibility of calculating your SIP returns anywhere, anytime.

Mutual Funds are becoming an increasingly popular financial product for wealth accumulation and appreciation. SIP offers flexibility, makes your investment habit more disciplined, and allows rupee-cost averaging benefit. Therefore, it is much more convenient and easy for investors, rookies and veterans alike.

FAQs

  • How to start investing through SIP in ICICI Prudential Mutual Funds?

You can visit ICICI’s official website and browse through their dashboard to find the Mutual Funds option. There, you can see the SIP investment option. Use ICICI Mutual Fund SIP calculator to estimate returns and choose accordingly.

  • Why should I invest through SIP and not as a lump-sum?

Investing through SIP offers the Rupee-cost averaging advantage. It allows you to purchase more units of MF by investing the same amount during the bearish market and sell them at a higher rate during the bullish market. It significantly reduces the cost per unit of MFs while diversifying the risks.

  • Can I avail tax benefits on Mutual Funds’ investments?

Tax benefit u/s 80C is available on ELSS Funds. Investment in ELSS Funds of up to Rs. 1.5 Lakh is exempt from tax.


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