InvestorQ : What are the benefits of using a SIP calculator?
Ashok Patkar made post

What are the benefits of using a SIP calculator?

Answer
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Swapnil Sarang answered.
2 years ago


An SIP calculator helps a potential investor understand for himself/herself how much he/she stands to gain by investing in mutual funds via the SIP route.
Here are a few benefits of using the SIP calculator:
- It is easy to use: SIP calculators were created to help an individual understand how money gets compounded, how much he/she needs to invest to reach a particular financial goal. Thus, SIP calculators are created to be as easy as possible so that any lay man can use it to know how much amount he/she will earn by investing a particular amount.
- It is fast: No need for complicated calculations and nerve-racking formulae. You only have to feed in your investment amount, investment tenure and return rate to get an idea of how much you stand to earn via an SIP.