How could increasing SIP by ₹1,000 every year add ₹1.24 crore to a person's corpus?
If a person invests ₹10,000/month in an SIP at an expected 12% annual rate of return, then the total corpus after 25 years will be ₹1.90 crore. But, if SIP is increased by ₹1,000 every year at the same expected annual rate of return, the total corpus after 25 years will be ₹3.14 crore. This means an additional ₹1.24 crore.
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