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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 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.

What is SIP and How to Invest in it?

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 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.

How to Calculate Returns Using IDBI Mutual Fund Calculator?

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.

IDBI Mutual Fund SIP Calculator Formula

= P*((1+i)^n)-1)/i)*(1+i)

where:

– Amount you will receive/Return

– SIP amount

– compounded rate of return, which is the annual rate of return %/12

– number of months

Advantages of Using IDBI Mutual Fund Calculator

Some of the key benefits of using a SIP calculator are as follows:

  • No need to go through complicated calculations. Just enter the basic values and the return will be calculated for you instantly
  • It allows investors to get an idea of the amount that their mutual fund investment would accumulate at the end of their SIP tenure beforehand
  • With this kind of estimate in mind, finances can be planned in a much better way
  • Not only confined to planning the finances, with the estimation provided by calculator one can get immense help in choosing the right mutual fund scheme.
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