Only 24 months, ₹ 12000 every month… Know how to create a fund of ₹ 3.25 lakh through SIP, complete details

Do you also save a little bit from your salary every month, but that money lying in the bank account does not grow? Do you also want to earn money from money, but get scared by the very name of the stock market? If yes, then today we are going to tell you about the easiest and smartest way of investment, which is called SIP. And the best part? You do not have to invest lakhs of rupees at once, but rather save a little every month as per your pocket. Let us understand in simple language that if you do a SIP of ₹ 12,000 every month for only 2 years (24 months), then how does your money grow and how much can you get in the end. What is this SIP after all? (Meaning of SIP) Full name of SIP is – Systematic Investment Plan. Just think of it as a ‘smart piggy bank’. Just like you withdraw some money from your salary every month and put it in a piggy bank, similarly in SIP you put a fixed amount (say ₹ 12000) in a mutual fund every month. This money does not remain lying there, but keeps growing gradually. This is best for those who do not understand the market much, because in this the risk is distributed automatically. SIP of ₹ 12000, 24 months: How much is out of your pocket? First of all, let’s see how much money you deposited in total. Monthly installment: ₹ 12,000 For how long: 24 months (2 years) Total out of your pocket Money:₹12,000 And this is not simple interest, but compound interest, which is also called the eighth wonder of the world. This means that you also get interest on interest. So how much money will be made from SIP of ₹ 12000 in 2 years? Let’s calculate. Let us assume that you get an average return of 12% per annum on your investment (which is a general estimate). Monthly SIP Time (months) Total money in your pocket Only interest income After 2 years you will get (approximately) ₹ 12,00024 ₹ 2,88,000 ₹ 37,000 ₹ 3,25,000 You see! You invested only ₹ 2.88 lakh, but in 2 years you got a direct profit of about ₹ 37,000, without doing anything! This is much more than the money lying in your bank. Why is even a short SIP of 2 years a profitable deal? Often people think that the real fun of SIP is in 10-20 years. This is true, but even a small SIP of 2 years gives you two big benefits: Habit of savings: It inculcates in you a good habit of saving money and putting it to work. Small goals accomplished: This fund of ₹ 3.25 lakh accumulated in 2 years can be very useful for any of your small goals, like buying a bike, going for a trip or in any emergency. So what are you waiting for? Give your small savings the power of SIP today and watch your money grow.