ICICI SIP calculator helps calculate the rough future value of your SIP investments. It suggests various ICICI mutual fund schemes for SIP based on your selection. It uses the power of compounding to grow your savings.
What is SIP is the question on everyone’s mind even by the investors who have been investing for a long time. So here’s the guide on basics of SIP & SIP Calculator to help you achieve your financial goals.
SIP or Systematic Investment Plan is a financial tool that helps to create wealth by enabling an investor to invest fixed amount regularly (weekly, monthly, quarterly) in a mutual fund scheme. Since here the investing is done in regular intervals the amount of risk associated to market instability is reduced effectively.
You can think of SIP as a type of Recurring Deposit for mutual funds with fund houses and brokers promoting this to help people grow their money. Recurring Deposit gives fixed returns to investors whereas SIP returns depend upon on a range of market factors. Benefits of SIP investment over lump-sum investments are numerous.
Fintra’s SIP calculator is a simple tool to compute returns made on your SIP primarily on your mutual fund investments. This is an approximate return and the actual return may vary due to tax, exit loads, expense ratio, etc. Fintra encourages you to invest in mutual fund via SIP as it brings in financial discipline and inculcates the habit of saving. Most importantly you will benefit from the power of compounding when you invest in Mutual Funds via SIP.
You can also customize your SIP. Many fund houses allow investors to invest monthly, bi-monthly and fortnightly. They are step-up SIP’s too which allow an investor to increase the sip amount periodically.