SBI Mutual Fund: Do you also want to get great returns in a short time? If yes, then SBI’s Mutual Fund SIP can be a great option for you.
By depositing a small amount every month, you can create a fund of lakhs of rupees. Come, in this article, we give you complete information about SBI Mutual Fund SIP.
SIP for a secure future
SBI is the biggest bank in India. Crores of people trust SBI and deposit their money. SBI gives its customers a great opportunity to invest through Mutual Fund SIP.
In SIP, you can deposit a fixed amount every month. This is a long-term investment, in which interest is received on the amount deposited. This long-term investment helps you to become financially strong.
How to take advantage of SIP
If you work, you can save a small part of your income for the future. You can invest in SBI’s SIP to fulfill your children’s education or any other goal.
By depositing a minimum of ₹500 in SIP, you can create a fund of up to ₹55 lakh. This is a long-term investment, in which the money deposited gradually grows with interest.
Understand it as an example
Suppose you deposit ₹5000 every month as SIP. Then your total deposit amount becomes ₹60,000 in a year. In SBI Bluechip Direct Plan Growth, you get an annual interest rate of 15%.
According to this, you will get an interest of ₹5106 every year. In this way, after 1 year, your total amount will become ₹65,106.
For how long will you have to invest
If you deposit ₹5000 per month for the next 5 years, then your total deposit amount will become ₹4,48,408. After this, you can deposit ₹500 every month for the next 8 years. With the interest received during this period, your total deposit amount will be around ₹9,29,683.
Benefits of SIP
In this way, you can create a fund of around ₹13,93,286 in 10 years by investing just ₹5000 monthly. The advantage of SIP is that a small amount can be deposited every month. This long-term investment also provides the benefit of interest.
