How much time will it take to reach Rs 5 crore with a monthly SIP of Rs 20,000?
Are you wondering how long it will take to reach your target corpus of Rs 5 crore with a monthly investment of Rs 20,000? Here is a help for you. (Source: Value Research)
One should know how much they will be saving each month, how much they are aiming to save and if they have any lump sum amount. Then calculate the times in which you will be able to meet your target and save the desired amount.
One should know whether they have a lumpsum amount or not to invest along with the monthly SIP of Rs 20,000.
Assume that your investments will grow at a rate of return of 12% per annum. It refers to the investment rate that one will anticipate from their investments.
According to the calculator, it will take around 28 years and 3 months to reach the target corpus with a monthly SIP of Rs 20,000.
To meet your target, you have to save money for 28 years and 3 months. The total corpus accumulated will be Rs 5.01 crore invested across 28 years and 3 months.
