Bank interest rates are now very low, so many people are now thinking of doing SIP in mutual funds in the hope of getting some extra money. However, investing in mutual funds is risky. Before investing in mutual funds, you should invest in funds that provide 12 to 14 percent return and risk. So, if you make a SIP of Rs. 4,000 every month, how long will it take to create a fund of Rs. 10 lakh?
If someone makes a SIP of Rs. 4,000 every month, it will take 11 years to create a fund of Rs. 10 lakh at a 12 percent return. In these 11 years, you can get Rs. 10,98,000. However, it depends entirely on the return, which is subject to market risk. In these 11 years, a capital of Rs. 5,28,000 will be accumulated.
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Can I invest in cash?
According to the rules, some people have been given exemption from investing in mutual funds. That is, they can invest in mutual funds even with cash. Those who are not taxpayers and do not have a PAN/bank account can also invest in mutual funds with cash, such as farmers, small traders, businessmen, laborers, etc. This includes. The condition is that a maximum of 50,000 taka can be invested in mutual funds with cash per financial year.
