Choosing SIP mutual fund investment has various benefits like building a disciplined approach towards investment, enjoying the power of compounding and averaging out your savings to beat inflation. But you need to estimate the returns correctly to use them to finance your goals. Here a systematic investment plan SIP calculator proves useful. This online calculator calculated the returns automatically and relieves you from tedious manual calculations. Here are the top reasons that make it a helpful online investment tool.
Provides accurate results
You simply need to enter the following details to check your returns on an SIP calculator:
- The amount of SIP instalment
- The number of instalments
- Duration of investment
- The expected annual rate of return
Whether you want to invest in liquid funds, debt funds, tax-saving mutual funds, etc.
Once you fill in the above details, the calculator generates accurate results immediately. With a one-time calculation, you can check the full maturity amount and total returns besides the total amount of investment.
The results are error-free because the auto calculation is backed by the necessary formula built into the system. This eliminates any chances of mistakes, unlike manual calculations.
Easy and fast to use
You can use the SIP calculator right on the website or application of your asset management company. Using it is free of cost. The interface is built in a way that it does not require any extra details apart from basic ones like the amount of installment and the duration of mutual fund investment. Therefore, the systematic investment plan calculator is user-friendly.
Even if you are new to SIP mutual funds, you can use the tool easily and learn everything related to your SIP investments. Besides, as the calculator works digitally, it is even fast to use.
Helps you make an informed decision about your investments
A great advantage of using this smart calculator is it shows estimated returns on different mutual fund investments. So, you can compare the choices and pick one that suits you best.
Besides, you can check on the SIP calculator how your returns can change with a change in the amount of regular investment or tenure. Thus, you can keep adjusting the parameters until you settle for the right investment amount and duration to try maximising your profits through the returns. This can help you invest in the best way to achieve your set financial goals.
Moreover, the calculator allows you to adjust the interest rate. So, you can predict your returns on various SIP mutual funds for a particular tenure and amount of investment at the chosen rate. After comparing the returns, you can choose the most suitable investment option and the rate of interest. Choosing the best fund scheme is important to expect high performance and potential returns.
With all these benefits, you can make an informed decision regarding your SIP investment.
Now that you see the multiple benefits of using an SIP calculator, ensure to use it online before you start investing in a suitable mutual fund scheme.
The post SIP Calculator: Why is it a Helpful Online Investment Tool? first appeared on Businessely.com.