What is SIP?
SIP stands for Systematic Investment Plan, and it is a way of investing money in mutual funds. It is a disciplined approach to investing, where investors can accumulate wealth over time by investing small amounts regularly. SIP allows investors to invest a fixed amount of money regularly at predetermined intervals, typically monthly or quarterly.
What is Benefits in doing SIP?
Disciplined investing: SIP encourages regular investing, helping investors develop a habit of saving and investing over the long term.
Rupee cost averaging: With SIP, you buy more mutual fund units when prices are low and fewer units when prices are high. This reduces the impact of market volatility and averages out the purchase cost over time.
Power of compounding: Investing regularly through SIP allows you to benefit from the power of compounding, where your investment gains generate additional returns.
Flexibility: SIP offers flexibility in terms of investment amount and frequency. Investors can choose the amount they wish to invest and the interval at which they want to invest.
What is SIP Calculator ?
An SIP Calculator is a tool used to calculate the potential returns on investments made through a Systematic Investment Plan (SIP) in mutual funds. It helps investors estimate the future value of their investments based on various parameters such as investment amount, investment duration, expected rate of return, and frequency of investment.
How ICICI Bank SIP Calculator works?
ICICI Bank SIP Calculator takes three input parameters (SIP amount, Expected return rate & Years) from the user and provides the estimated final accumulated amount of SIP year by year.