When will monthly step-up SIP of ₹10,000 reach ₹1 cr, ₹5 cr & ₹10 cr?
An SIP of ₹10,000/month and increasing it by 10% every year could result in a corpus of around ₹1 crore after 16 years at an assumed annual return of 12%. It could cross ₹2 crore in 21 years, ₹5 crore in 27 years and ₹10 crore in 32 years. Increasing the amount every year and compounding together accelerate growth.
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