You know this that you can easily get up to 50 thousand as interest on your deposit. But the question is how will such a huge fund be prepared.
Saving Money
Many people keep on earning for the rest of their life but are unable to assemble a fund from which they can get a fixed amount after retirement. In today’s era, there is no guarantee of anyone’s job, especially for those working in the private sector. In such a situation, if you start investing from now by making a right strategy, then in some time you will create such a fund from which you will get a good amount of money every month comfortably. For this you do not even need to do anything special, just keep accumulating money every month by making discipline.
Mutual Fund is such an investment in which if invested for a long period by making the right strategy, then you can create a thick fund. In fact, through regular investment through SIP i.e. Systematic Investment Plan, the biggest goal can be accomplished. Let us know how you can earn 50 thousand tax interest through SAP.
The longer the investment, the more profit
The most important rule of SIP i.e. Systematic Investment Fund is to invest for a long time. Talking about the returns, it not only gives better returns, as well as the risk is also slightly less than the stock market. Generally, returns of 10 to 20 percent are available in mutual funds. In this sense, if you invest 3500 rupees for about 30 years, then you can easily create a fund of 1 crore. In fact, SIP gives up to 20 percent return on short-term investment, whereas if you invest for a long period, then your return also increases. Interest of up to 50 thousand can easily be earned on an amount of 1.20 crores.
How will the big fund be prepared?
You know this that on an amount like 1 crore, you can easily get up to 50 thousand as interest. But the question is how will such a huge fund be prepared. If you start your investment with Rs 3500, then in the next 5 years you will become a fund of Rs 2.88 lakh. On the other hand, if you increase it to 10 years, then after the return your fund will be Rs 8.13 lakh. In these ten years, you must have deposited about Rs 4.10 lakh while you will get Rs 3.93 lakh as return. If you do not withdraw it and extend it like this for 30 years, then you will have a full corpus of Rs 1.20 crore (including returns).
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