Kotak Mahindra Mutual Fund offers an array of mutual fund schemes across different classes such as equity, debt, and hybrid funds. It’s often seen that investors find themselves in a dilemma about the monthly amount needed to meet their exclusive goals in wealth creation or long term financial planning. To make things convenient, one can use the Kotak SIP calculator that can help you in deciding the SIP amount to go with.
What is Systematic Investment Plan and How does it Work?
SIP is a method of investing a fixed amount regularly in any mutual fund scheme. SIP allows one to purchase units on a given fixed date each month. It inculcates a disciplined approach towards investment and leverages the power of rupee cost averaging and compounding.
Systematic Investments have stood the test of time and Kotak Mahindra Bank mutual fund sip calculator shows how a small investment made month on month can help you amass a corpus over a long period.
How to Use Kotak Mahindra SIP Calculator?
In order to use the Kotak Mutual Fund SIP return calculator, you need to provide the below-given details like and it will show the estimated returns on your investment:
1: Enter the monthly investment amount you want to invest or use the slider provided to select the amount
2: In this step, enter the return rate or move the slider
3: Choose the investment period.
4: Click on the ‘Invest now’ button.
It will show the invested amount, estimated returns and the total value in just a few seconds.
Formula for Kotak 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 Kotak Bank
- Save time on complicated calculations. The Kotak Bank SIP Calculator makes the calculation easier for you and also minimises the chances of error.
- It’s freely available and can be used multiple times.
- The Kotak SIP calculator provides easy visibility about the amount you need to keep aside to meet long term goals like retirement planning and lets users plan their investments efficiently.