We are here to provide you with information about SBI Mutual Fund SIP Scheme. Nowadays, investing in mutual funds is becoming increasingly popular, as they tend to offer higher returns compared to regular savings.
If you’re looking to invest your money for the long term, the SBI Mutual Fund SIP Scheme can be a great option for you. This plan offers maximum profit.
Let’s Know how you can build a fund of ₹22 lakhs by investing just ₹2000!
SBI Mutual Fund SIP Plan Overview:
As mentioned, mutual funds tend to offer better returns than regular investments. Here, we’re discussing the SBI Magnum Mid Cap Direct Plan, which was launched by the State Bank of India in 2013.
This mutual fund has delivered an impressive return of 20.007% since its inception in 2013. Over the past 3 years, it has offered a return of 24.44%, and in the last year alone, it has given a fantastic return of 40.31%.
If you invest ₹2000 monthly in this SBI Mutual Fund SIP, based on an estimated annual return of 20%, you can expect to invest a total of ₹3,60,000 over 15 years. With the compounding effect, you will earn interest of approximately ₹19,85,590, making your total fund value around ₹22,68,000 upon maturity.
Best SBI SIP Plans for 2024
Some of the top-performing SBI SIP schemes are:
- SBI Small Cap Fund
- Average return: 20-25%
- High risk, high reward potential, suitable for young investors.
- SBI Magnum MidCap Fund
- Average return: 15-20%
- Targets mid-cap companies, offering good long-term returns.
- SBI Bluechip Fund
- Average return: 10-15%
- Invests in large, stable companies with moderate risk.
- SBI Equity Hybrid Fund
- Average return: 8-12%
- Balances equity and debt, suitable for lower-risk investors.
- SBI Focused Equity Fund
- Average return: 12-18%
- Invests in a focused portfolio of high-quality companies with higher risk and reward.
Benefits of SIP Investment:
- Rupee Cost Averaging: Helps mitigate market volatility.
- Power of Compounding: Small investments grow into large funds over time.
- Flexibility: Adjust your SIP amount based on your financial situation.
Note: Always consult a financial advisor before investing and assess your risk tolerance.
