SBI SIP Calculator
- DetailsWritten by PolicyBazaar -
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Updated date : 15 July 2020
Systematic Investment Plan (SIP) is the key disciplined approach when it comes to investing in mutual funds. All you need to do is set aside a fixed amount of money regularly, which will help you in generating capital in the long run simultaneously inculcating the practice of savings too.
An SBI SIP calculator will help you to bring close to goal-based investing and help you to progress in terms of financial planning.
Understanding SBI SIP Calculator
In India, the industry of mutual funds has been doing well and it also has witnessed an increased compared to the past decade. As per the data shared by the Association of Mutual Funds in India, the mutual fund industry in India has catapulted to Rs 24.25 trillion from Rs 5.83 trillion.
Undoubtedly, the figures are low when compared to other economies, however, the figures depict that the Indian residents slowly understand the advantages of investing in the mutual funds. Moreover, at this stage of development in regards to such investment instruments, there is still a lot of unawareness and confusion.
Therefore, it is prudent for any prospective investor that they can figure out the amount of return the investment will capitulate. It is then when the SBI SIP calculator will be of much help.
With the help of SBI SIP calculator, one can create a financial cushion, which will help an investor to achieve financial objectives for a short-term and long-term as well. The State Bank of India SIP plans offers a platform for investors who are new to the market and allow you to invest with a low amount every month and let you gain high returns over some time.
In the table below is the list of the best SBI mutual funds SIP to invest in the equity funds 2020:
|Name of the Fund||SIP Investment (Minimum)||1-year||3-years||5-years|
|SBI Banking and Finacial Services Fund||Rs 500||-20.6||2.7||9.2|
|SBI Focused Equity Fund||Rs 500||-4.8||6.9||9.3|
|SBI Healthcare Opportunities Fund||Rs 500||34.6||5.9||1.2|
|SBI Large and Midcap Fund||Rs 500||-11.4||0.9||4.6|
|SBI Magnum COMMA Fund||Rs 500||-3||0.7||7.4|
|SBI Magnum Equity ESG Fund||Rs 500||-10.8||2.7||5.2|
|SBI Magnum Global Fund||Rs 500||2.4||3.5||5|
|SBI Magnum Multicap Fund||Rs 500||-13.1||1||6.1|
|SBI Small Cap Fund||Rs 500||-4||3.6||10.1|
|SBI Technologies Opportunities Fund||Rs 500||0.5||14.4||8|
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
As on 26 June 2020, the returns up to one year are absolute basis and if more than a year is on a CAGR basis respectively.
How is the Mutual Fund of SBI SIP Calculator Helpful?
When it comes to investing in a SIP it is done through a mutual fund, which is done in a planned way. It is almost like an RD, wherein you need to deposit an amount each month towards a scheme of the mutual fund.
As against to investments that are lump sum wherein an investor invests an amount significantly in a plan in simply one go. The SIP’s are strategic and the risk factor is slightly low. Lets us take you through some following points that highlight the importance of using an SBI SIP calculator:
- The use of State Bank of India SIP calculator will provide with the right estimate in regards to the SIP returns. However, as the mutual funds are mostly subject to the risk of the market, therefore, the result would slightly vary.
- When it comes to calculating the SIP specifically manually then it is complicated. Even though one knows the formula, it takes a good amount of time. The SBI SIP calculator online will provide you with the correct results in a few seconds.
- Financial planning for your future is important and using SBI SIP calculator makes the work convenient and hassle-free providing accurate results. The SBI SIP return calculator is easy to access and you would not require any subject matter advisor to use at any point in time.
Using SBI SIP Returns Calculator
The SBI SIP calculator uses four variables to come at the returns, which are anticipated post the period of investment. Now, the variables are likewise inserted in the following formula that will help to arrive at the anticipated returns.
But before, we take a look at the formula to let us understand the variables that will be in SBI SIP calculation along with the representations below:
- FV: The future value
- P: Amount of SIP
- R: Expected rate of return
- i: Compounded rate of return
- n: Total number of instalments done
Formula: FV = [P x R x (1 + i) n-1/i] x (1 + i)
If you intend to do the SIP calculation manually with the help of this formula it will be cumbersome and the calculation would be complex. In case you are looking to check the different values of the variables for the expected returns then it will be more than time-consuming.
Therefore, to save time and for accurate results, it is advisable to use SBI SIP calculator and efficiently manage your task within time.
What are the Advantages of using SBI SIP Calculator?
Listed below are some of the key advantages of using SBI SIP online calculator:
- This use of SBI SIP calculator will give you peace of mind and will also save you precious time.
- The calculations done on the SBI SIP online calculator will provide you with instant results, which will help the investor to plan for the finances for the future.
- The SBI SIP online calculator can be used from any point across the globe. The use of this SBI SIP calculator has made the calculations easy.
Invest in the right SIP after consulting with the SBI SIP calculator.
How to Use SBI SIP Return Calculator?
You can easily use the SBI SIP online calculator, which is easily accessible by everyone from anywhere. It is simple to use the SBI SIP return calculators, all you need to do is put the variables respectively in the defined slots.
The SBI SIP calculator will give you the result without taking much of your time and efforts simultaneously.
Frequently Asked Questions
Q. What amount can be invested in a SIP?
Ans: When investing in an SBI SIP, it is advisable to keep the amount low, however, as such, there is no such cap for the amount of investment.
Q. How to buy SBI SIP online?
Ans: To buy SBI SIP online fill the form of KYC correctly. Anyone who is looking forward to investing in the mutual funds, need to complete the KYC duly along with address proof, identity proof and a passport size photograph. Through in-person verification, you need to confirm the existence physically.
Visit the official website of the State Bank of India. Next, analyze your profile of risk and opt for a suitable duration. Next, you need to select a suitable SBI SIP scheme that you wish to invest and set the instalment amount accordingly. Choose the best SBI SIP plan and create a corpus for the long run. Submit the SBI SIP form online.
Q. Is SIP a better investment than a lump sum investment?
Ans: The key differentiating factor between a SIP and lump sum investment is that when it comes to the SIP it is monetarily less taxing for the investor, although, the investors need to be involved greatly. On the other hand, the lump sum investments are slightly higher in terms of risk when compared to the SIP.
It is important to understand that both of these approaches of investments have their share of advantages and disadvantages.
Q. Do SIP investments assure high returns?
Ans: It is to be noted when it comes to the mutual funds it is mostly subject to the market risks The performance of the mutual fund could be below-par too. So, when it comes to the investment it is better to look forward to professional assistance.
Q. Is it safe to use an SBI SIP online calculator?
Ans: Yes, it is safe and convenient to use an SBI SIP online calculator. Investment in an SBI SIP largely depends upon the performance of the mutual fund.
Q. Is it possible to increase the duration of SBI SIP?
Ans: An investor can easily initiate a SIP nad opt the duration accordingly. Just fill the enrolment form for the SIP and then initiate an SBI SIP online.
Q. What if I forget to pay the SBI SIP instalment?
Ans: In case you forget to pay the instalment for the SBI SIP, do not worry no penalty would be charged, however, if you miss it for the three consecutive times, then most likely the SBI SIP will be cancelled.
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