What needs to be done to collect Rs 1 Crore from Mutual Fund SIP? – India TV Hindi.

Mutual fund SIP is a good way to accumulate a large corpus by saving small amounts.

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A mutual fund SIP also has an annual step-up option. In this the monthly SIP has to be increased by a fixed percentage every year.

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You can also become a millionaire by putting your small savings into a mutual fund SIP every month.

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In the long term, you can easily earn an average return of 12 percent in mutual funds.

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If you start a SIP with Rs 5000 per month with 10% annual increment, you will be able to accumulate a corpus of Rs 99,44,358 in 20 years. ₹ 34,36,500 will be investment amount and ₹ 65,07,858 interest income.

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If you keep the annual step at 11 percent, you will be able to accumulate ₹ 1,07,73,680 in 20 years. In this the investment amount will be ₹38,52,170 and the interest income will be ₹69,21,511.

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Next: What will be the EMI if you take a personal loan of Rs 15 lakh for 5 years from HDFC Bank?

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