c) Return Rate (%) – The annual rate of return expected on your investment.
After inputting the details, the monthly SIP amount required to reach your target will be displayed. This calculator can be used by those who wish to invest or those who already started an SIP and would like to know if the existing SIPs are sufficient to reach their goals.
Suppose your target amount for the next 5 years is Rs. 30,0000 for your child’s education and your expected return is 10%. Using the target amount SIP calculator, you can determine how much you need to invest every month to reach that target amount.
Thus, to save Rs. 30,0000, you need to start an SIP for Rs. 38,874.33 every month to achieve your target. Remember longer the time horizon, less the SIP amount so try to start as early as possible to save the most!
Using the EduFund’s Target Amount SIP calculator is fun and easy! Just type in the following details and find out how much you need to set aside every month to achieve your target:
a) The target amount
b) Time period of investment
c) Expected returns
d) Starting date
By giving us this basic information, you can find out the monthly SIP amount you need to meet your target amount!
a) Enables you to plan your investment based on the target amount and time horizon.
b) Computes an estimation of the SIP, which helps you choose a suitable mutual fund scheme.
d) It saves the user valuable time by eliminating the need to do the calculations manually.