BOI SIP Calculator 2024 - Calculate BOI SIP Returns Online

A joint venture between the Bank of India and AXA Investment Managers, BOI is an Indian nationalized bank that caters to various investment objectives of its customers. Customers can opt for the SIP method or the lump sum method of investment to invest in multiple funds through BOI. With the BOI SIP Calculator, an investor can easily and quickly calculate the expected returns receivable at the end of the tenure.

Read more
Best SIPs
  • Guaranteed Tax Savings

    Guaranteed Tax Savings

    Under sec 80C & 10(10D)^
  • savings

    ₹1 Crore

    Invest ₹10k Per Month*
  • Zero LTCG Tax

    Zero LTCG Tax

    Unlike 10% in Mutual Funds
Top Performing SIP's with High Returns*
Invest ₹10k/month & Get ₹1 Cr Tax free*
+91
Secure
We don't spam
View Plans
Please wait. We Are Processing..
Your personal information is secure with us
Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs #Discount offered by insurance company
Get Updates on WhatsApp
We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold
BOI SIP Calculator 2023
  • Monthly
  • Yearly
/month
Enter Monthly Investment
Enter Invest for
Enter Invested for
/Year
Enter ROI
Total Investment
Maturity Amount
PROJECTED GAINS
Top Funds with High Returns (Past 7 Years)
Whole Life Mid Cap Equity Fund
22.36%
Whole Life Mid Cap Equity Fund
Midcap Fund
21.22%
Midcap Fund
Multiplier
20.65%
Multiplier
Accelerator Mid-Cap Fund II
20.14%
Accelerator Mid-Cap Fund II
High Growth Fund
19.95%
High Growth Fund
Opportunities Fund
19.57%
Opportunities Fund
Classic Opportunities Fund
16.39%
Classic Opportunities Fund
Flexi Cap
15.42%
Flexi Cap
Opportunity Fund
15.16%
Opportunity Fund
Save N Grow Money Fund
11.76%
Save N Grow Money Fund

What is SIP and How to Start Investing in SIP?

One of the emerging investment types becoming highly popular these days is Systematic Investment Plans or SIPs. SIP is a type of mutual fund^^ investment in which an individual can invest a fixed amount at regular intervals and attain high returns at the end of the tenure. Some of the top reasons one should invest in a SIP are:

  • It helps inculcate a habit of savings in an individual that brings discipline to their life

  • Serves a dual purpose of investment and savings

  • Investments as low as Rs. 500 can be made in some SIPs

  • Eliminates financial burden during the financial crisis

  • Helps create a decent financial corpus

One can invest their money in SIPs through any reliable portal of investment and easily start investing after the completion of KYC.

BOI SIP Calculator 2023

The SIP Calculator is an online financial resource that provides investors with information on how much they need to invest to reach their desired financial corpus. This user-friendly and efficient tool offers quick results for even complex financial calculations. The Bank of India SIP Calculator takes into consideration the current market conditions. Even though the financial market is unpredictable, the BOI SIP Calculator 2023 calculates the returns keeping the current market scenario in mind. It's important to note that the computed results from the calculator may not always match the actual results.

How to Use the BOI SIP Calculator?

Using the Bank of India Systematic Investment Plan – SIP Calculator is extremely easy and only requires basic details to be filled in related to the SIP scheme. Here are the simple steps one needs to follow to calculate the returns on your Bank of India (BOI) SIP:

Step 1: Move the slider to select the amount you wish to invest monthly

Step 2: Select the expected rate of return you wish to attain yearly by moving the slider

Step 3: Choose the tenure for which you wish to invest in the BOI SIP scheme

Step 4: The Total Invested Amount, Total Interest Earned, and Maturity Amount will be shown on your screen

How to Calculate the BOI SIP Returns in 2023?

The below-mentioned formula is used for the computation of returns for Bank of India SIPs schemes:

FV = P x ({[ 1+ i] ^ n -1} / i) x (1+i)

Here is the elaboration:

FV = Future Value (The amount to be received after maturity)

P = amount that the investor invests

i = The rate of interest periodically, that is, annual return rate percentage / 12

n = Total number of months

Illustration

Mr. XYZ invests Rs. 1,000 every month in his BOI SIP scheme for a tenure of 1 year at a 12% interest rate. His Future estimated maturity return value would be:

Future Value = 1,000 ({[1 + 0.01] ^ {12 – 1} / 0.01) x (1 + 0.01)

Future Value = Rs. 12,809 yearly (approximately)

Highlights of the Bank of India SIP Calculator 2023

One can invest in mutual funds in 2 ways:

  • Systematic Investment Plan or SIP

  • Lump-sum

A SIP is considered a better investment option when compared to the lump sum method of investment in mutual funds because:

  • It inculcates a habit of regular savings.

  • One can deposit money at regular intervals without being overburdened to pay all the amount in one go.

  • Pocket-friendly deposits can be made monthly, keeping availability in mind

The Bank of India Systematic Investment Plan Calculator is a beneficial tool in the following ways:

  • Great investment option for beginners.

  • Minimal details are required to make an investment

  • Calculators provide quick and accurate results in comparison to manual calculations.

  • The hassle-free tool with easy-to-understand options.

  • Provides assistance to investors as to how much they should invest in fulfilling their future goals.

Investment Strategy using the Bank of India SIP Calculator 2023

Investment is an important aspect of financial planning, and the Bank of India SIP Calculator can help individuals develop an effective investment strategy. A systematic investment plan (SIP) is a convenient and disciplined approach to investing in mutual funds, allowing individuals to invest a fixed amount of money at regular intervals. The BOI SIP Calculator 2023 can be used to determine the amount of money that needs to be invested each month to achieve a specific financial goal.

To use the Bank of India SIP Calculator, individuals need to enter their investment horizon, the expected rate of return, and the amount of money they want to invest each month. The calculator will then provide an estimate of the total investment required to reach the financial goal and the amount of money that will be generated in return.

Investors can also use the BOI SIP Calculator to compare different investment options and determine which one is best suited for their financial goals and investment horizon. In addition, by regularly investing a fixed amount of money, individuals can take advantage of the power of compounding and build their wealth over time.

Conclusion: Make smart investments 

In conclusion, the Bank of India SIP calculator is useful for individuals looking to invest in mutual funds through the systematic investment plan (SIP) route. It helps investors determine the amount of money they need to invest each month to reach their financial goals based on their investment horizon and expected rate of return. With its user-friendly interface and easy-to-use features, the BOI SIP calculator 2023 makes it simple for investors to plan their investments and keep track of their progress toward their financial goals.

FAQ's

  • What is the SIP of Bank of India?

    The Bank of India SIP is a systematic investment plan for investing in mutual funds offered by the bank. The BOI SIP Calculator 2023 helps individuals determine the amount needed to invest monthly to reach their financial goals and provides an estimate of total investment and returns. It assists in creating an investment strategy based on financial goals, investment horizon, and risk tolerance.
  • What information do I need to use the BOI SIP Calculator?

    To use the Bank of India SIP Calculator, you need to enter your investment horizon, the expected rate of return, and the monthly investment amount.
  • Is the BOI SIP Calculator 2023 accurate?

    The accuracy of the Bank of India SIP Calculator depends on the input data and market conditions. While the calculator considers the current market scenario, the financial market is unpredictable, and the computed results may not always match the actual results. Therefore, it is important to use the calculator as a guide and not as a guarantee of future returns.
  • Can I calculate the SIP amount for different investment periods using the Bank of India SIP calculator?

    Yes, the Bank of India SIP Calculator allows you to calculate the SIP amount for different investment periods.

*All savings are provided by the insurer as per the IRDAI approved insurance plan.
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^10(10D) Tax benefit are for Investments made up to Rs.2.5 L/ yr and are subject to change as per tax laws.
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

Invest in SIP plans
starting ₹1,000/month

and Grow your wealth to meet
to your financial goals

invest in sip
View plans
Standard T & C Apply*

SIP plans articles

Recent Articles
Popular Articles
Max Life SIP Plans

14 Feb 2024

Max Life SIP Plans are a type of Unit Linked Insurance Plan
Read more
Top Mid-Cap Funds for SIP in 2024

16 Jan 2024

Investing in Mid-Cap Funds through a Systematic Investment Plan
Read more
5 Common SIP Mistakes To Avoid in 2024

04 Jan 2024

Discovering the potential of Systematic Investment Plans (SIPs)
Read more
How to Achieve Financial Goals Faster with Step-Up SIPs in 2024?

04 Jan 2024

Step Up Systematic Investment Plan or Step Up SIP is a dynamic
Read more
AMC SIP

01 Dec 2023

AMC SIP stands for Asset Management Company Systematic
Read more
Best SIP Plans for 5 Years Investment 2024
SIPs are a great way of investing in mutual funds^^ for both long and short terms. It helps inculcate an
Read more
Best SIP Plans for 1,000 Per Month in 2024
Systematic Investment Plans are an excellent way for you to invest in the best SIP plans for Rs. 1,000 per month
Read more
XIRR Calculator
Extended Internal Rate of Return (XIRR) is a key metric used in calculating return on investments. The XIRR
Read more
Index Fund SIP Calculator
An Index Fund SIP is a method of investing in index funds systematically over regular intervals. Index funds are
Read more
Best SIP to Invest for 10 Years
The Systematic Investment Plan or SIP allows you to choose a mutual fund^^ plan and invest a fixed amount
Read more

top
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL