You might be among those few who face difficulties to earn even a rupee in their lives or may be going through the phase of a private job, which often worries them about the future. Well, if this is your case, then you can enter under the latest Systematic Investment Plan Scheme of State Bank of India, with just an investment of ₹500, and at the end of 33 years, this can reward you with a bonus of 55 lakhs that would be enough to manage your future very well.
Various types of saving schemes are really running in State Bank of India today. If a person’s salary is like around ₹15000-₹20000, then every common citizen can usually save a small amount after meeting some necessities. And let us remind you that with only a small amount of ₹500, you can get returns worth lakh.
SBI Blue Chip Fund Direct Plan Investment Mathematics
If you invest into mutual funds of State Bank of India, depositing an amount of ₹500, you can call that amount very small today. This money, however, is going forward and upwards when regularly put into the fund over a long period of time. The offer, in fact, gives you an annual return around 15% and, on average, SBI Blue Chip Fund gives similar returns. So how can a small initial investment grow to such big amounts? Let’s get all the information:
SIP of Rs 500 in Year 1
For instance, if ₹ 500 were invested in the Systematic Investment Plan, the cumulative amount would be ₹ 6,511 by the end of one year. Out of this, ₹ 511 is interest, which is the benefit derived from a 15% annual return.
500 SIP Rupees for 10 years
However,continuing the investment for 10 years, in Rs. 500, the amount that you would have invested will be converted into Rs. 1,39,329. That means you would receive Rs. 79,329, an interest income return.
SIP of 500 rupees for 20 years
Now, you will have a total amount of ₹ 7,57,977 if you continue with this investment for 20 years, in which interest of ₹ 6,37,977 is going to be added.
500 rupees SIP for 30 years
Continuing your plan with the former increase for 10 more years will prolong the investment period for a total of 30 years. This will now generate an investment worth Rs 35,04,910, which will give returns amounting to Rs 33,24,910; this is a lifetime return.
SIP of 500 rupees for 33 years
Maintaining an investment for a period of 33 years will give a person a total of ₹ 55,04,323 from a princely sum of ₹ 500, out of which ₹ 53,06,323 can be called returns. Thus, the man will earn lakhs with a mere 500 rupee amount right now.
Clause SBI Mutual Fund: This is purely general informational purposes content and shall not be deemed professional advice in any way. For individual or specific situations please contact a specialized professional. This channel does not take any responsibility for the accuracy of this information or its results.
