What are the Benefits of using SIP Calculator?

SIP Calculator

Investing and not knowing how the asset is performing might not be something you would want. Just like other investment tools have calculators, there are special calculators for SIPs and also for lump sum return calculator, tax saving calculator, among others.

Some of the top mutual fund calculators have also been mentioned below which are often used by the investors. Coming back to SIP calculator, as you know that SIP can be done in many ways. For instance, there is an option to do weekly, monthly, quarterly, and yearly SIPs.

The most common form of SIP is, however the monthly SIP. The reason is that most of the people are salaried and get their salary on a monthly basis. As a result of which, it gets easier to invest on the same basis as it helps in keeping the track.

Why must you use SIP calculator?

Using any investment calculator or tool is advisable as it makes it quite clear how the money is expected to grow. Even though there is no assurity that a particular fund will give a set return, using it in advance will help in knowing how much amount can you invest in the form of SIPs.

There are two types of SIP calculators like SIP monthly calculator and the other is the SIP return calculator. In the first one, you have to mention the amount you want to have at the end of the investment period, the investment period and the expected return rate.

On the basis of these two, you will get the monthly SIP that is required to achieve your financial goal. In the other calculator, you have to mention the amount you can invest comfortably for the whole investment period, the investment period and the expected return.

This calculator will tell you the amount you are going to get at the end of the investment period. It is hence said that is SIP calculator helps in making the right decision so the investment can be done smoothly for the whole time period.

Types of Mutual Fund Calculators

  • Mutual Fund SIP Calculator
  • Mutual Fund Lump Sum Calculator
  • Mutual Fund Tax Saving Calculator
  • Mutual Fund STP Calculator
  • Mutual Fund SWP Calculator
  • Mutual Fund SIP Calculator
  • Mutual Fund Lump Sum Calculator
  • Mutual Fund Calculator Monthly Contribution

Mutual Fund SIP Calculator

SIP calculator allows you to examine the returns accrued on the SIP investments in a specified fund till date. All you need to go through the steps:

  1. Choose the name of AMC you would like to invest.
  2. Choose the scheme name of that particular AMC you would like to invest.
  3. Enter your amount of investment in INR.
  4. Enter your SIP frequency-Monthly or Quarterly.
  5. Enter your SIP date from the beginning date of your investment till its maturity.

Tax Savings Calculator

Tax-saving funds are ELSS mutual funds. However, there are other tax saving instruments like EPF, PPF, FDs, etc. By using Tax Savings calculator, you can evaluate how much tax you can save on these tax-saving instruments altogether. Just follow the steps given below:

  1. Enter the Total Amount for the year.
  2. Enter the amount calculated (after adding both employer and employee contribution) in your Employee Provident Fund(EPF) account.
  3. Enter the amount invested in your Public Provident Fund(PPF) account.
  4. Enter the premium amount of your Life Insurance
  5. Enter the returns fetched by your 5-Year Bank Fixed Deposit
  6. Enter the repayment amount for your house loan (principal portion)
  7. Enter the Tuition Fees which goes towards your child’s education
  8. Enter the amount for ‘Any other Kind of Investment’ being made (the sum total amount)

Link Aadhaar with Mutual Funds

You must have heard that the government of India has made it mandatory for all the Indian citizens to link their Aadhaar with PAN card, mobile number, bank account, credit card, driving license. Other than this, it is also important for all the mutual fund investors with their portfolios.

The last date to link Aadhaar with Mutual Funds is December 31, 2017. If you have not yet linked any of the mentioned documents, you have to do it before the deadline else the particular account will be blocked. So, to enjoy uninterrupted services, link your Aadhaar.

There are different ways for Aadhaar seeding. There is an online process, offline process like visiting the nearest branch or even the procedure through SMS. The customers can also check the status of the linking the Aadhaar with bank account by dialing 9999*1# from the linked mobile number.

 

Disclaimer – Mutual Funds are subject to market risks. Please read the scheme related documents carefully before investing.

 

Srishti Singh is a professional financial writer who has written on various financial products like personal loans, home loans, credit cards & mutual fund investment, etc. She believes in delivering best of her knowledge so as to help the readers understand the product and be aware of their financial decisions.

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