Axis Bank SIP Calculator 2024

Why invest in an SIP?

Investing in SIP has become one of the most popular ways of investing. While SIP is associated with mutual funds, the concept of investing across regular intervals across various products such as direct equities, gold bonds help you inculcate financial discipline, allowing you to create wealth over a period of time

Axis Bank SIP Calculator

The Axis Bank SIP Calculator is a tool helps you calculate the estimated returns over the tenure that you are planning to invest. It takes into account factors like the investment amount, investment tenure, and expected rate of return to provide a projected value of the investment.

Advantages of using Axis Bank SIP Calculator:

• Helps plan investments: The calculator allows investors to estimate the future value of your investment thereby enabling you to pursue your financial goals accordingly
• Potential growth: The calculator provides a visual representation of the potential growth of your investments which illustrate the power of compounding
• User-Friendly Interface: Simple and intuitive design that allows for quick and easy calculations.

How Does Axis SIP Calculator Work?

• Input Details: Enter the amount you wish to invest, number of years you wish to invest, and the expected rate of return.
• Calculation: The Axis Bank SIP calculator applies the compound interest formula to determine the future value of SIP
• Result: Instantly get the matured amount helping you plan your investments accordingly

Formula for Axis Bank SIP calculator

FV = [P x r x (1 + i) ^ n – 1]/i} x (1 + i)

In which,

• FV=Future value of your investment
• P=SIP amount every month
• I=Compounded rate of return
• r=Expected rate on return
• n=Number of instalments

For example, suppose you make a SIP investment of Rs. 5000 for the duration of 20 years with expected returns of 12%. The calculator will instantly provide you with the future value of your investment

• Invested amount – ₹12, 00,000
• Estimated Returns – ₹37, 46,277
• Future value of investment – ₹49, 46,277

FAQs for Axis Bank SIP Calculator:

1. What is the minimum investment amount for an Axis Bank SIP?

The minimum investment amount for an Axis Bank SIP is usually ₹500 per month.

2. Can I change the investment amount during the SIP tenure?

Yes, you can change the investment amount during the SIP tenure based on the terms

3. Does AXIS bank SIP Calculator provide accurate returns?

No SIP calculator can provide accurate returns of your investments. It just provides a figurative amount of the growth of your investments

4. How long does it take to start an Axis Bank SIP?

The process of starting an SIP with Axis bank just involves few steps that include registration and KYC Verification.

5. Can I withdraw my money from an Axis Bank SIP before the tenure ends?

Yes, Axis Bank SIPs allow partial or full withdrawals, but there are some restrictions for the same

6. How Can I compare different Axis Bank SIPs to pick the one that suits my financial goals?

You can make use of Fincover platform to compare different SIPs of Axis Bank at one place. We are a Mutual Fund aggregator that has collated multiple MFs from various providers. You can compare the potential returns from various funds and choose the one that suits you the most. Our Financial advisors can suggest the best plans based on your goals.