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An SIP is an investment method in which you can invest a fixed amount in any mutual fund scheme at regular intervals. The Axis Bank SIP calculator can help you calculate the returns that you can expect from the SIP. Therefore, knowing how to use it is essential.
To use the SIP investment calculator of Axis Bank, you can use any of the two following approaches.
Step 1: Enter the investment amount
Step 2: Add the expected growth rate
Step 3: Provide the duration of investment in years
Step 4: Set the step-up percentage as per your desire, and the calculator will display the estimated gains
Here, the calculator helps you decide the amount you need to invest every month, based on the target.
Step 1: Enter the target amount you expect
Step 2: Add the expected growth rate
Step 3: Provide the investment tenor
Step 4: Set the step-up percentage as per your desire, and the calculator will display the estimated gains
Here is the formula that the Axis Bank SIP plans calculator uses to calculate the expected returns.
A = P*((1+i)^n)-1)/i)*(1+i)
Where,
A is the maturity amount of the SIP
P is the investment amount
i is the compounded rate of return (annual rate of return divided by 12)
n is the number of months
Considering that it is a free-to-use digital tool that can be used on almost any device, it has many upsides.
The Axis Bank SIP calculator is an easy-to-use tool that provides results instantly. All you need to do is enter the necessary information like the investment amount, the rate of return, and investment duration in the calculator.
This tool eliminates the need to perform the calculation manually, which can have errors. On the other hand, an SIP calculator provides results with a high degree of accuracy. Do note that these results are only estimates and there is no guarantee.
The most significant benefit of the Axis Bank SIP calculator is that it provides you with the expected returns for the fund, if you opt for the SIP mode. It helps you try various investment amounts with different investment durations to compare multiple scenarios. This helps you choose the right SIP plan that matches your financial goals.
A great benefit of this SIP calculator is that you can use it without incurring any charges. For your convenience, most financial institutions like banks and NBFCs offer these calculators on their official websites and apps.
Another benefit of using the Axis Bank SIP calculator is that it encourages you to invest early to meet your financial goals. This helps you know how much amount you need to invest to reach your financial goal.
Whether you want to save for your child’s education or purchase a car, this tool encourages you to plan your investment better.
Using the Axis Bank SIP calculator, you can easily determine the returns on your investment based on three different growth scenarios. These are based on average returns, above-average returns, and below-average returns.
This calculator also shows you ways to step-up your investments annually. This will help you achieve your financial goals faster through enhanced SIPs.
If you intend to invest money via an SIP, the Axis Bank calculator is a tool you should consider using. It simplifies the process of calculating the expected returns, helping you make the right investment decision. On Bajaj Markets , choose from various investment avenues that offer SIP options.
With the help of an SIP calculator, you can choose the right investment from the options available and invest online without any hassle.
Yes, the Axis Bank SIP calculator is available to use for free. You can use this tool as many times as needed without restriction.
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