Calculate Your Sbi Sip Returns: Grow ₹10,000 Monthly To ₹15 Lakhs In 10 Years
Calculating your SBI Mutual Fund SIP returns can provide valuable insights into how your investments will grow over time. If you are considering an investment strategy to grow ₹10,000 monthly to ₹15 lakhs in 10 years, understanding the potential returns from Systematic Investment Plans (SIPs) in SBI Mutual Funds can be crucial. Here's a comprehensive look at how this can be achieved. To calculate SBI Mutual Fund SIP returns , we use the Compound Annual Growth Rate (CAGR) formula, which allows us to estimate the annual growth rate of investments over a specific period. Consider a scenario where you invest ₹10,000 per month for 10 years, with an expected average annual return of 12%. The SIP calculator helps us approximate the future value of these investments. Starting with the primary calculation, the monthly SIP investment of ₹10,000 over 120 months (10 years) implies a total investment of ₹12,00,000. Using an average annual return of 12%, the CAGR formula can be applied as foll...