Do you also want to become rich, you can become a millionaire in just 10 years
Invest here for more profit
Equity Mutual Funds are a good investment option. You can invest your small savings in equity mutual funds through SIP. This savings can make you a millionaire. Investors who want to deposit a large corpus and do not have lump sum amount to invest, they can invest through SIP. SIP in Mutual Funds for ten years can give you at least 12 percent annual interest rate.
Increase your investment this way
In Equity Mutual Fund, you can also walk with a target of 10 years. With these ten years of investment, you can accumulate a fund of one crore rupees. You can use Annual Step-up in Monthly SIP to achieve this target. Step-up is a feature of SIP, which increases your contribution in SIP after a specific period. You can increase your SIP amount by some percentage every year. In this way you can increase your income by yearly increments and increase the amount of SIP according to your financial goals.
This is the calculation of one crore fund
If you are planning to raise Rs 1 crore from a 10-year SIP, you can keep the annual step-up at 20 per cent. According to the SIP calculator, here you have to start with a monthly SIP of Rs 21,000 for 12 per cent annual return. If the monthly SIP is Rs 21,000, the estimated annual return rate is 12 per cent and the annual step-up is 20 per cent and the tenure is 10 years, then you can deposit a corpus of Rs 1 crore. As per the SIP calculator, after ten years the total investment amount will be Rs 65,41,588 and the return amount will be Rs 38,34,556. In this way you will have a fund of Rs 1,03,76,144. In this way you can become a millionaire in a short span of time.
