Step Up SIP Calculator 2023

What is Step UP SIP?

SIP is where you make monthly investments systematically. Step Up SIP is also known as Top Up SIP. Step Up SIP is wherein you increase the amount you invest each month. You can increase the amount in a fixed percentage or the way you want. Some funds also allow investors to choose the period in which they will increase the SIP amount. So, as you grow your SIP, your investment will also increase.

What is Step Up SIP Calculator?

In SIP, you can choose how much money you wish to invest every month. You can increase the amount in one month and reduce it in the second month. Having to track the investment patterns and calculate the amount needs you to have excellent arithmetic skills. It can also be time-consuming. Step Up SIP calculator 2023 also known as Top Up SIP calculator helps investors by computing the calculations and providing them directly with the results.

How To Use Step Up SIP Calculator 2023?

You do not have to be trained in the degree of mathematics or know about finance to use the Step Up SIP calculator 2023. Following are the steps through which you can compute the returns in a matter of seconds:

Step one: Visit the official website of the Mutual Fund in which you wish to invest.

Step two: Navigate through the website to find the Step Up SIP Calculator.

Step three: Enter the amount you wish to invest in the mutual fund every month.

Step four: Enter the growth rate or the interest rate percentage that you get in your Mutual Fund.

Step five: Enter the tenure of your Mutual Fund.

Step six: Click on the 'Calculate' tab.

The Output Of The Step Up SIP Calculator

Once you hit the calculate tab, the algorithm will calculate the amount of the return by using the data you fed. At the end of the calculation, you will receive the following output from the Step Up SIP Calculator:

• The first result that most of the top up SIP calculators show is the sum of all the SIPs you made during the tenure of the Mutual Fund.

• The second result shows the approximate amount that you will get from your SIP investment.

• The third result has information regarding the overall returns that you will get after the Fund is matured.

Example of Step Up SIP Calculator

The illustration of the Step Up SIP Calculator below will clarify its procedure.

Let's assume that the Step Up SIP for a period is 10%. With every investment period, your investment amount will increase by 10%.

For Example, if you invest Rs. Ten thousand in one year, then the investment premium will be Rs. 11,000 next year. The year after that, the SIP premium amount will be Rs. 12,100.

Input:

Monthly investment amount: Rs. 10,000

Annual Step Up SIP: 10%

Expected returns rate: 10% Per annum

Tenure: 10 years

Output:

The total amount that you invest is Rs. 19,12,491

The estimated returns that you gain through SIP are Rs. 9,88,655

The total value that you get at the end of the maturity of the Fund is Rs. 29,01,146

How Does The Step UP SIP Calculator 2023 Work?

Step Up SIP Calculator or Tip up SIP calculator calculates your investment returns through the computer algorithm. The percentage of the amount that you increase every month or every quarter will be calculated. Feed-in all the data required for the computing. You do not need to provide any formula, just basic details readily available to you.

Benefits And Features Of Top Up or Step Up SIP Calculator

Following are the benefits and the features that come along with using the Step Up SIP Calculator:

• Advance Financial Planning: It helps you in financial planning. You can feed in all the data even before you invest. This will help you in being prepared beforehand. You can manage your finances accordingly from the commencement of the Mutual Funs till the end of the tenure.

• Free to Use: It is a free online tool. You can also open a SIP utilizing your existing bank's internet banking service. You can use it from your smartphone with a good internet connection.

• No Room for Error: The computer software calculates the results; therefore, there is almost no chance of getting your results wrong.

• Unlimited Use: There are no limits on the times you wish to use this tool. You can use it until you get the amount you think is appropriate for the investment. Constant use of the Step Up Calculator will not alter or influence your results.

• Time-saving: This tool saves time. You do not have to devote a lot of time to the platform. The website loads quickly. All the information you are required to feed in is readily available. Even the estimated amount can be calculated. The whole computing takes only a matter of seconds.

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