IDBI SIP is one of the most efficient ways to invest in Mutual Funds. A SIP or Systematic Investment plan works like a Recurring deposit, in which you need to invest a small amount of money monthly for a stipulated interval. Most of the mutual fund schemes of IDBI mutual fund have SIP option. With IDBI Bank you can invest in a wide range of mutual funds with a view to achieve and accomplish your financial goals/objectives. You can also calculate how much you can make by investing in SIPs by using the IDBI SIP calculator and find how many sips you need to reach the desired corpus. This calculator will show you how small investments made at regular intervals can yield returns over a long period of time.
SIP or Systematic Investment Plan is a method of investment where a fixed amount is deposited at regular intervals (weekly, monthly, quarterly) in the mutual fund scheme of investors’ choice. With the SIP mode of investment, one can ensure that the savings amount does burn a hole in their pockets. Investors can start investing in SIP Mutual Funds either through online or offline mode and calculate their estimated returns using the SIP calculator of IDBI. IDBI mutual fund provides the convenience of buying, selling, redeeming, the funds in a hassle-free manner so that you can enjoy investing online in top IDBI SIP mutual fund schemes.
Calculating the estimated returns on your investment using this calculator is very easy; you just have to enter the basic details pertaining to your SIP MF scheme. SIP returns are calculated according to compound interest. See the steps below :
Step 1: Enter the monthly investment amount you want to invest or make use of 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 then show the invested amount, estimated returns and the total value.
A = P*((1+i)^n)-1)/i)*(1+i)
A – Amount you will receive/Return
p – SIP amount
i – compounded rate of return, which is the annual rate of return %/12
n – number of months
Some of the key benefits of using a SIP calculator are as follows: