In today’s times, saving and investing is very important. In view of rising inflation and uncertain future, it has become necessary to save money for the future.
SIP (Systematic Investment Plan) is a great plan which helps you in making a big fund even with small investments.
In this article, we will tell you how you can build a corpus of ₹20 lakh in 15 years with a monthly SIP investment of ₹3000.
What is SIP?
SIP, or Systematic Investment Plan, is an investment plan through which you can invest small amounts regularly. This is a popular way to invest in mutual funds.
Benefits of SIP:
Starting small: SIP can be started with a minimum investment of ₹500. This is perfect for those who want to make small savings.
Discipline: SIP helps you develop the discipline of investing regularly.
Compound Interest: SIP provides the benefit of compound interest, which makes your money grow faster.
Less Risk: SIP has less risk because you invest small amounts.
How to create a corpus of Rs 20 lakh with monthly SIP investment of Rs 3000:
Suppose you invest ₹3000 every month and you get an annual return of 15%. In this situation you can create a fund of ₹ 20 lakh in 15 years.
