Invest in Sip Investment Plan to for a Bright Future
You can plan your financial future by investing in SIP investment plan. It allows you to invest fixed amount of money in mutual funds regularly. You can make the most of the growth potential of equity funds by investing calculated amount periodically.
SIP Amount
SIP plans help you to reach your financial goal by letting you invest regularly. The amount to be invested regularly is called the sip amount. By investing the right sip amount monthly you can reach your final amount as per the set schedule. Hence, it is very important to calculate the right sip amount.
SIP Calculator
To calculate the right sip amount you need to first know your financial goal, the number of years your want to invest for and the expected annual rate of return. ICICI Pru Mutual Funds offers a sip calculator on its website to arrive at the sip amount. For this you need to enter the following information :
Financial goal
Yearly investment period
Expected rate of return
The calculator will show you the amount in rupees to be invested on a monthly basis. ICICI Prudential AMC also offers a mobile app IPRUTOUCH to calculate the right sip amount. This app can be downloaded and installed on your mobile.
Other options
You can reach your financial goal faster by investing in the SIP TOP UP plan. In this case, you invest the right sip amount monthly and increase the monthly investments through SIP TOP UP.
This gives you the opportunity to create more wealth and reach your goals faster. For this you need to know :
Your financial goal
The number of years your want to achieve it
Assumed rate of return compounded monthly
How much you want to increase your SIP investment every year
ICICI Prudential Mutual Funds offers financial goal calculator which can be used to arrive at the monthly SIP investment and the the SIP TOP UP amount which has to be invested annually to reach your financial goal. It also shows the number of years it will take to reach the financial goal without the SIP TOP UP option. For this you need to enter the financial goal, the number of years you want to invest in, expected rate of return and the SIP TOP UP in multiples of 5%. Thus, with the SIP TOP UP option you can periodically increase your investments to keep up with the future income and cost of living.