What is Step-Up SIP ?
A Step-Up SIP (Systematic Investment Plan) is a feature that allows investors to increase their SIP contributions at regular intervals, usually annually.
This approach is particularly beneficial for investors whose income grows over time, allowing them to increase their investment amounts without altering their existing SIP structure.
By stepping up SIP contributions, investors can accumulate more wealth in the long term.
What is Step-Up SIP Calculator SBI?
A Step-Up SIP Calculator SBI helps you estimate the future value of your investment, factoring in both the regular SIP contributions and the periodic increase (step-up). Here's how you typically calculate it:
The calculator will give you an estimate of the maturity amount based on these inputs.
Initial SIP Amount: – The amount you start investing monthly.
Expected rate of return – – The annual growth rate you expect from your investment.
Investment tenure – – The number of years you plan to invest.
Step-Up Percentage: – The annual percentage increase in your SIP contribution.