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One of the best habits to get into is the habit of saving and investing. Wealth creation does not happen over time. A conscious effort needs to go into creating the financial corpus that you need for a comfortable life. An ideal investment instrument to help you with this is a Systematic Investment Plan or a SIP. This SIP calculator allows you to calculate the amount you will accumulate on your SIP investment.
A Systematic Investment Plan (SIP) Calculator is a clever and simple tool that can help you in calculating the returns on your SIP investments. You can use this to receive an estimate of how much you need to invest each month to accomplish your desired goal. It's a quick and efficient way to reach your financial goals. By inputting a few basic details, you can quickly calculate the estimated returns on your investment.
SIP calculators use the compound interest formula to calculate possible returns. The calculator predicts prospective profits based on the number of times compounding is relevant. Furthermore, the SIP calculator asks for the monthly amount to be invested, the period of the investment (in years), and the estimated rate of return on the SIP.
Our SIP Calculator uses the following formula –
M = P × ({[1 + i]n – 1} / i) × (1 + i).
M= amount you receive on maturity
P= amount you invest at regular intervals
n= number of payments you have made so far
i= periodic rate of interest