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What is a Step up Calculator?
What is a Step up Calculator?
Step up SIP calculator displays the upcoming volume of SIP investments which growing systematically by mentioned percentage. In this calculator you put the small amount on monthly base, percentage of expected returns, and number of years you have to invest.
After entering all these value the calculator displays you the maturity worth and your over-all investment till that period.
What is SIP?
SIP is called Systematic Investment Plan. Here you have to invest a certain amount such as monthly basis. When you start SIP first of all you need to decide the amount, the SIP date, and the scheme you want to invest in.
Why Step up SIP?
In step up SIP allow you to increase your SIP amount at fixed intervals. Regular sip helps you to create wealth but when you start to step up sip you take a step towards creating bigger wealth hence whenever your income increases your savings also increases so invest that savings in step-up sip in order to create greater wealth.
What are the types of SIP?
1) Step up SIP: In this investment you can increase your investing amount at fixed intervals.
2) Flexible SIP: Also known flex SIP or flexi SIP, in this investment you can increase and decrease your investment amount. It allows you to change the SIP value according the market condition.
3) Perpetual SIP: In this you have the option of not choosing the end period; you can stop and cash the fund when your financial goal is achieved.
4) Trigger SIP: Trigger SIP delivers the authority to select the NAV, index level, SIP start date or event etc. Trigger SIP is not highly advisable as it encounters some danger while.
Use Step Up sip calculator on Imperial Money-