Are you worried about your daughter’s marriage due to her increasing age? It is natural that in such a situation you cannot run away from money worries. Instead, you can start investing from today itself. Let us know in details>>>
You can invest in SIP in case of financial crunch in future or to meet your expenses. SIP means Systematic Investment Plan. If you do not want to invest directly in the stock market then SIP is the perfect option for you. In SIP a fixed amount has to be deposited at every regular interval. Know here how a fund of Rs 20 lakh can be deposited through SIP with a monthly deposit of Rs 25 thousand.
How to make Rs 20 lakh, this is the calculation
According to the calculation, you will have to invest Rs 25,000 every month. This means you will invest Rs 3 lakh in 1 year. You will have to make this monthly investment for 5 years. That means you will invest a total of Rs 15 lakh in SIP for 5 years. Now suppose you get 12% annual return on investment. Keep in mind, you also get the benefit of compounding on interest. That means you can earn interest on interest also.
According to the calculation
You will get a total interest of Rs 5,62,159 on SIP investment. At the time of maturity, you will get the investment amount and interest amount together, which will be ₹ 20,62,159.