How long will Rs 15,000 SIP and Rs 1 lakh lumpsum take to become Rs 3 crore? Check calculations
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Monthly investment amount
Are you wondering how long it will take to reach your target corpus of Rs 3 crore with a monthly investment of Rs 15,000? Here is some help. (Source: Value Research)
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Check details before investing
Investors should first assess how much they can invest each month, whether they have any lump-sum amount available, and the corpus they aim to build. These factors can help determine how long it may take to achieve the financial goal and whether the current investment plan is adequate to meet the target.
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Have a lump-sum amount?
One should also consider whether they have a lump-sum amount to invest along with the monthly SIP of Rs 15,000. Say you have Rs 1 lakh to make a lump-sum investment.
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Assumed rate of return
Assume that your investments grow at a rate of 12% per annum. This refers to the annual return that one expects from their investments.
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Total time to reach target corpus
According to the calculator, it will take around 25 years and 10 months to reach the target corpus with a monthly SIP of Rs 15,000 and a lump-sum investment of Rs 1 lakh.
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Total corpus one will create
To meet the target amount, you will have to invest for more than 25 years. The total corpus accumulated will be Rs 3 crore over 25 years and 10 months, with a lump-sum investment of Rs 1 lakh.