If you are raising money for your child’s future, then by investing just 5 thousand rupees every month, you can deposit an amount of up to Rs 55 lakh. However, you will have to do a top-up of 5 to 10 percent. There are some ways through which you can deposit more than Rs 51 lakh in a few years without any hassle. Especially when you are planning for your daughter’s marriage or your child’s education and future. Mutual Fund SIP is one such way through which you can deposit maximum amount. If you are raising money for your child’s future, then by investing just 5 thousand rupees every month, you can deposit an amount of up to Rs 55 lakh. However, you will have to top-up 5 to 10 percent in between. This is a facility that can give you huge profits in a short time with less investment. Suppose you start a SIP of ₹5000 and top up 5% in it every year, then your amount will keep increasing year after year. If you start a SIP of ₹5000 and top up 5% extra every year, you will get a big benefit.
How to deposit more than 51 lakh amount
In the first year, 60 thousand rupees will be invested. In the second year, after a top-up of 250 rupees every month, you will have to invest 5000 rupees. In this way, 1.23 lakh rupees will be deposited in the second year. Similarly, a top-up of 5 percent will have to be added to your SIP every year.
Regular investment will have to be made for 18 years
If you deposit Rs 5000 every month in SIP with 5% top up for 18 years, then you will deposit a total of Rs 16.87 lakh. Now assume the average return on SIP in the long term to be 12%. At the rate of 12%, you will get Rs 34.50 lakh from interest alone. After 18 years, you will get Rs 51.45 lakh.
