Union Mutual Fund is a part of Union Bank of India and offers a variety of schemes to the investors under the equity, debt, and hybrid categories. Union Asset Management Private Limited (formerly known as Union KBC Mutual Fund) manages these schemes of Union Mutual Fund. Investors thinking to invest in Union Mutual Funds SIPs can check their monthly SIP amounts based on the desired corpus with the help of an SIP calculator for Union Bank. The company focuses on creating strong asset management in India with the help of the unrivalled brand value of Union Bank of India, knowledge of their vast customer base, and extensive network.
A SIP is a method of investment in the preferred mutual fund scheme at regular intervals (weekly, monthly, quarterly, etc). It is indeed a great tool for your investments as it offers you the option to build a corpus with small inputs, and gives you the benefit of rupee cost averaging. Union Bank of India SIP calculator will help you estimate the monthly SIP amount you would require to allocate towards your mutual fund investments to reach the desired amount within the set time horizon
This Calculator helps to calculate the wealth gained for your periodic SIP investment at the end of the tenure of your monthly/quarterly SIP. This amount is calculated based on an expected rate of return.
Here’s how to use the calculator.
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 show the invested amount, estimated returns and the total value. It’s that easy!
The Union Bank SIP calculator uses the following formula to calculate returns based on the rate of return, principal amount ( SIP value ) and the expected time frame.
A = P*((1+i)^n)-1)/i)*(1+i)
A – stands for the Amount you will receive
P – is the SIP amount you invest
I – is the compounded rate of return, which is the annual rate of return %/12
n – represents the number of months