Create a fund of Rs 20 lakh with a mutual fund SIP of Rs 1100
If you want to create a fund of Rs 20 lakh easily, it can happen. All you need to do is invest only Rs 1100 every month through a Systematic Investment Plan (SIP) in a good mutual fund scheme for 25 years.
What is SIP?
SIP is a way of investing in mutual funds, similar to investing in a recurring deposit (RD) in a bank or post office. It involves investing a fixed amount every month, which gradually builds up into a larger fund over time. The best part is that you can choose to invest for as long as you want, and you can close your SIP at any time without incurring any penalty. Additionally, you can withdraw money from your SIP whenever you need it.
Top 5 mutual fund schemes giving average returns of more than 20% every year for 5 years
Here are the top 5 mutual fund schemes that have been giving good returns every year continuously for the last 5 years:
1. Quant Small Cap Mutual Fund Scheme: 26.99%
2. Quant Infrastructure Mutual Fund Scheme: 23.97%
3. Axis Small Cap Mutual Fund Scheme: 22.95%
4. Quant Active Mutual Fund Scheme: 22.27%
5. Quant Mid Cap Mutual Fund Scheme: 21.85%
It is important to note that the returns of mutual fund schemes have been calculated on the basis of NAV as of June 15, 2023.
In conclusion, if you want to create a fund of Rs 20 lakh, investing in a good mutual fund scheme through SIP is a great option. Moreover, with the availability of top-performing mutual fund schemes, you can earn good returns on your investment.
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