City
Epaper

All you need to know about how to accumulate Rs 1 crore in 10 years via SIP

By Lokmat English Desk | Updated: July 13, 2023 18:24 IST

Open in App
1 / 8
Scheme To Become Millionaire: Be it a working person or a businessman, everyone dreams of becoming rich. Many times people are unable to save even after earning well. So they have to bear financial hardship.
2 / 8
But if money is invested properly, nothing can stop you from becoming a millionaire. Today we are going to tell you about these methods of experts, by which you can accumulate funds of crores by saving just 100 rupees per day.
3 / 8
Even if your salary is low, you can easily save Rs 100 per day. You don't need big investments to get rich.
4 / 8
It also often happens that many people wait for a salary hike. They say that once the salary increases, the investment starts. But in reality, that rarely happens and investments are made.
5 / 8
You can create a fund of Rs 1 crore by saving Rs 100 per day. The best option for this is SIP. Through SIP, you can accumulate funds of Rs 1 crore by saving just Rs 100.
6 / 8
Its formula is very simple. Many mutual funds have given bumper returns to investors over the long term. There are some funds that have given returns of up to 20 percent. Nowadays most people are aware of mutual funds.
7 / 8
If you save Rs 100 per day, you will save Rs 3000 in a month. If you invest this in a mutual fund and get annual returns of up to 20 percent, in 21 years i.e. 252 months you will have a fund of around Rs 1,16,05,388.
8 / 8
During this period you will accumulate a total of Rs.7,56,000. Even if you get a return of 15 percent instead of 20 percent, you will get around Rs 53 lakh. If you want to accumulate crores in a short period of time, you have to increase your own investment amount.
Tags: Systematic Investment Plan
Open in App

Related Stories

BusinessCan SIP Investments in Multicap Funds Offer Better Risk Distribution?

NationalMutual Funds New Rules: SEBI Brings Major Relief to SIP Investors; Check Details

NationalMutual Fund SIP Versus Recurring Deposit: Understanding the Difference To Maximize Returns – Know Before You Invest

BusinessMonthly SIP Book Witnesses Impressive Rise - says Mr Misbah Baxamusa, NJ Wealth

BusinessWhere Should I Invest in my early 30's?

National Realted Stories

NationalIndia, Bhutan sign key pacts to boost bilateral power trade

National'It's BJP all the way in West Bengal!': PM Modi shares photo of massive gathering in Birbhum

NationalPM Modi has empowered women like never before: Lucknow Mayor backs Women’s Reservation Bill

NationalLieutenant Governor reviews preparedness for 100-day intensive campaign under 'Nasha Mukt Jammu Kashmir Abhiyaan'

NationalOperation HimSetu: 1,321 tourists, 84 locals evacuated in 48 hours by Indian Army