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Goal Based SIP Calculator
About Goal Based SIP Calculator
Investing in mutual funds through the way of SIP is one of the best ways to get good returns on the investment made. Using the InvestOnline goal based SIP calculator helps you get an estimate of the amount that you would regularly need to invest to meet your financial goals.
If planning for retirement or higher studies, maybe a wedding or buying an expensive asset that is presently out of financial reach; much like a house, car or jewellery, then the goal based SIP calculator would be of great choice as it will help you get a rough estimate of the money you need to park aside to get through your goals in a stipulated number of years.
How Does the InvestOnline Goal Based SIP Calculator Work?
The goal-based SIP calculator uses some important data to compute your regular SIP investment that you would require to make. Here are a few important steps that need to be followed when using the InvestOnline goal based SIP calculator.
Step 1: You will have to enter the target amount that you would require to complete your goal.
Step 2: enter the number of years in which you would require to complete your goal set.
Step 3: enter the expected return rate.
Consider the below example to understand the InvestOnline goal based SIP calculator in a better way.
Arjun’s target amount is to accumulate ` 50 lakhs in 10 years at an expected return rate of 12%.
On entering these details, the InvestOnline goal based SIP calculator will display the lump sum as well as the SIP amount that the investor will have to invest in to meet his desired financial goals.
Press the blue I WANT TO ACHIEVE MY TARGET button and see the required amount results (lump-sum and SIP) displayed instantaneously.
Thus, Arjun will have to make an investment of `16,09,866 on a lump sum basis.
TIP - Always keep in mind the cost of inflation while planning such targets. Assume a plan that needs to reach a target of ` 1 crore in 10 years. Considering inflation at say 7%, the buying worth of ` 1 crore today would need to be adjusted to ` 1.97 Crores after 10 years. The rate of inflation is always indicative and can change up or down based on local and/or global events.
The current inflation index can be found on Cost Inflation Index Chart
The InvestOnline goal based SIP calculator can be used by an investor who wants to start investing through SIP model or by existing investors who would like to know if the existing SIPs are enough to meet their financial goals.
Benefits of Using InvestOnline Goal Based SIP Calculator
Let’s take a look at some of the benefits of using the InvestOnline goal based SIP calculator.
FAQs on Goal Based SIP calculator
Can I use the goal based SIP calculator for calculating my wedding cost?
Yes, you can use the goal based SIP calculator for calculating the wedding cost. Using the calculator will help you with a rough estimate of the amount you will have to pay in SIPs to accumulate the desired amount for your wedding day.
Is InvestOnline goal based SIP calculator free to use?
Yes, the InvestOnline goal based SIP calculator is free to use.
I need to accumulate 3 lakhs in 2 years, how much will I have to pay in SIPs to accumulate the amount?
You can use the SIP calculator to know the estimated SIP amount you will have to invest each month. Using the Goal based SIP calculator you get the below figures -
Target amount: ` 3 lakhs
In number of years: 2
The expected rate of return: 12%
Monthly SIP you will have to pay: ` 11,122
Is SIP calculator and goal based calculator one and the same?
No, the SIP calculator and goal based SIP calculator is not one and the same. The SIP calculator helps you understand the value of your investment, whereas the goal based SIP calculator helps you understand the SIP amount you would have to invest each month to complete your desired goal amount.
Which SIP is best in India?
You can look for different SIP mutual funds on InvestOnline and pick the one suitable for you as per your budget and requirement
Can I change the target amount in the goal based SIP calculator?
Yes, you can change the target amount in the goal based SIP calculator to see if the monthly SIP amount displayed fits your budget and meets your future financial goals.