How long will it take to build Rs 2 crore with a Rs 10,000 monthly SIP?
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Monthly investment
Are you wondering how long it will take to reach your target corpus of Rs 2 crore with a monthly investment of Rs 10,000? Here is some help for you. (Source: Value Research)
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Things one should know
One should always know these things before they start investing - how much they will be saving each month, how much they are aiming to save month on month and if they have any lumpsum amount. Then calculate the time in which you will be able to meet your target and save the monthly amount.
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Have a lumpsum amount?
One should know whether they have a lumpsum amount or not to invest along with the monthly SIP of Rs 10,000.
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Expected rate of return
Assuming 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.
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Time to reach your target corpus
According to the calculator, it will take around 26 years and 5 months to reach the target corpus with a monthly SIP of Rs 10,000.
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Total corpus created
To meet your target, you have to save money for 26 years and 5 months. The total corpus accumulated will be Rs 2.01 crore invested across 26 years and 5 months.