Step Up SIP Calculator

SIP, or the Systematic Investment Plan, is the most preferred investment model that investors use. It offers multiple benefits. Even if you do not have a lump sum amount to invest, you can still move ahead with SIP. However, with SIP it becomes difficult to calculate the investment returns every time you invest. To get around it, you can use the SIP calculator.

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SIP Calculator

SIP
Lumpsum

Monthly Investment

₹500 ₹1L

Enter Monthly Investment

Expected Rate of Return (Yearly)

1% 20%

Expected Rate of Return (Yearly)

Time Period

1 Year 30 Years

Enter Time Period

Total Investment

Interest Earned

Maturity Amount

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 helps investors by computing the calculations and providing them directly with the results.

How To Use Step Up SIP Calculator?

You do not have to be trained in the degree of mathematics or know about finance to use the Step Up SIP calculator. 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 Step Up 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 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 the 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 Work?

Step Up 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 Step Up SIP Calculator

Following are the benefits and the features that come along with the using 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.

FAQ's

Q: Can I Step Up the existing SIP?

Ans: No, the fund manager does not allow you to Step Up your SIP after investing in the Fund. The terms and conditions regarding the investment and the returns are clear on this subject. When investing in the SIP, you get to choose the option of Step Up. If you do not select it, then you can not make any alterations to the current policy. For Step Up SIP, you can start investing in another fund.
Q: Why Step Up SIP is suitable for investors?

Ans: With Step Up SIP, you can increase the amount you invest in the Fund, which is a slow procedure. You can make your financial arrangement so that it will not be a burden to you. The amount that you invest in the Fund will earn you a profit. The more amount you invest, the more returns you will gain. The increase in the amount is also slight. It is an excellent investment option for people looking forward to wealth creation.
Q: What is the advantage of the SIP?

Ans: In SIPs you invest a specific amount every month. With the Step Up SIP, you get the added benefit of increasing the investment amount. You can plan it accordingly with your salary increase or the work bonus. SIPs are a monthly affair, so you also get around the market fluctuations. The interest that you generate over the years is in compounded form. Therefore, if you wish for the wealth generation, you should opt for Step Up SIP.
Q: When can I choose the Step Up SIP?

Ans: When you begin investing, you can choose to do the Step Up SIP. You can plan the percentage to Step Up as per your finances. This works on the assumptions. Therefore, if you find yourself in a financial predicament, you can always cancel your Step Up SIP and opt for a regular SIP. Depending upon your fund manager, you can suspend your Step Up SIP for three months.
Q: Can I change the Step Up percentage using the Step Up SIP Calculator?

Ans: You can readjust the Step Up percentage using the Step Up SIP Calculator. The Fund Manager allows investors to choose the rate they wish to use while doing Step Up SIP. While calculating, you can try different combinations of investment amount and the Step Up percentage until you find the one suitable for you. This needs to be done before you invest in the Fund. Once you start investing in the Fund, you can not change the percentage.
Q: What are the tax implications on SIP investment?
Ans: SIP premiums will help you get the tax rebates. Below are the details of the tax implications on the SIP investment:
- If long-term capital gains that you earn through your SIP investment are less than Rs. 1 Lac, then you do not have to pay any taxes.
- The short-term capital gains that you earn through SIP are taxed at the 15% tax slab.
- You can even claim tax rebates under the Income Tax Act, 1961 Section 80 C on the SIP premiums you pay every month. The amount has to be up to Rs. 1.5 Lacs.