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The Union Bank of India SIP calculator is an online tool that allows investors to assess if a particular fund can help them fulfil their financial goals. Here is how you can use the SIP calculator from Union Bank of India:
Step 1: Enter the amount you plan to accumulate
Step 2: Add the expected rate of return of the mutual fund
Step 3: Select the investment horizon
Step 4: Click on the ‘Calculate’ button to get the monthly SIP amount you have to invest
Alternatively, you can also use the other option, by clicking on ‘I want to invest’ and adding the required values. This option is for investors who know how much they are willing to invest, and want to know their expected returns.
To know your expected returns, use the following mathematical formula:
A = P*((1+i)^n)-1)/i)*(1+i)
‘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
The manual approach of calculating potential returns or the SIP amount for a mutual fund can be complex and tiresome. In addition, there is always a probability of human error in calculations. However, no such issue arises when you use the Union Bank of India SIP calculator.
Besides this, here are some other advantages that you get to enjoy when using the Union Bank of India SIP calculator to compute expected returns:
This online tool is quite easy to use as you can calculate the SIP amount by entering three variables. In addition, it also allows you to save time, as calculations are much quicker with the Union Bank of India SIP calculator than the manual approach.
Since you can use this tool to compare multiple mutual funds, you can use it to select a suitable one. In other words, use this tool to assess if a particular fund will be able to fulfil your financial goal.
You can access the UBI SIP calculator facility free of cost. Also, you can use it any number of times, as per your convenience, without restriction. You can use this online tool from the comfort of your home through your smartphone or laptop and plan your investment conveniently.
This calculator also allows you to save for your specific goals. Whether they are short-term goals like purchasing a vehicle or long-term goals like paying for your child’s higher education, you can save for them conveniently. It lets you understand how much you need to save and when to start investing to reach your goals on time.
To sum up, the calculator allows you to determine the amount you will have to pay as SIP payments to achieve the financial goal you set at the outset. To simplify the investing process and pick from numerous options, visit Bajaj Markets. In just a few clicks, you can invest in mutual funds online and with ease.
The Union Bank of India does not charge anything if you calculate potential returns or the SIP amount using the UBI SIP calculator. Moreover, there is no limit on free computations you can make using this calculator.