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SIP Calculator

SIP maturity value, with both annuity conventions shown side by side. A SIP debits at the start of the month, so each instalment earns one extra period. Worth ₹23,004 on ₹10,000 a month at 12% for ten years.

Also called: systematic investment plan calculator, monthly investment calculator, mutual fund sip calculator.

₹
%
Instalment timing
Maturity value
₹23,23,391

₹23,23,391 after 10 years. You invested ₹12,00,000; returns added ₹11,23,391. On the other convention the answer would be ₹23,00,387. A difference of ₹23,004, which is why two SIP calculators disagree.

Total invested
₹12,00,000
Returns earned
₹11,23,391
The same on the other convention
₹23,00,387
Difference between the two conventions
₹23,004
How this is calculated

An estimate, not an offer or a guarantee. Projected returns assume the rate you entered holds for the whole term, which no market does.

Invested versus value

Hover or drag for values
₹0₹5.81 lakh₹11.6 lakh₹17.4 lakh₹23.2 lakhYear 1Year 10
InvestedValue

Year by year

YearInvestedValueGain
1₹1,20,000₹1,28,093₹8,093
2₹2,40,000₹2,72,432₹32,432
3₹3,60,000₹4,35,076₹75,076
4₹4,80,000₹6,18,348₹1,38,348
5₹6,00,000₹8,24,864₹2,24,864
6₹7,20,000₹10,57,570₹3,37,570
7₹8,40,000₹13,19,790₹4,79,790
8₹9,60,000₹16,15,266₹6,55,266
9₹10,80,000₹19,48,215₹8,68,215
10₹12,00,000₹23,23,391₹11,23,391
Method and background

This is what the calculation gives for the numbers you entered. It is an estimate, not advice, and it knows nothing about your situation beyond those numbers. Rules for India change on a published schedule; the effective date is shown on every rule-based tool.

How this is calculated

The first instalment compounds for n periods, the second for n−1, and so on. Summing that geometric series gives the annuity formula. The only question is whether the money arrives at the start of the period or the end. A real SIP debits first and grows afterwards, which is the annuity-due form and one factor of (1+i) larger. Providers split roughly evenly between the two conventions and almost none of them say which they used.

FV = P * (((1+i)^n - 1)/i) * (1+i) [annuity due]
P
Instalment (currency)
i
Monthly return = annual ÷ 12 (decimal)
n
Number of instalments (months)

Full derivation: Why two SIP calculators give you different answers

Worked examples

Each of these is asserted on every build. If a change to the engine ever moved one of these answers, the build would fail before the page could print it.

the DRV-005 reference: 10k/month, 12%, 10 years, annuity due

Monthly investment
₹10,000
Expected return (per year)
12%
Investment period (years)
10
Instalment timing
Start of month: what an actual SIP does

Maturity value₹23,23,391

DRV-005 verified example

Open this example

the same on the ordinary convention

Monthly investment
₹10,000
Expected return (per year)
12%
Investment period (years)
10
Instalment timing
End of month: the ordinary-annuity convention

Maturity value₹23,00,387

DRV-005 verified example: the gap nobody explains

Open this example

zero return returns exactly what you put in

Monthly investment
₹10,000
Expected return (per year)
0%
Investment period (years)
10
Instalment timing
Start of month: what an actual SIP does

Maturity value₹12,00,000

degenerate case: i=0 branch of the annuity formula

Open this example

Written about this

Method and limits

What it assumes

  • The return you enter is assumed to hold, unchanged, for the whole period. No market does this.
  • Returns are compounded at the stated frequency with no taxes, fees or exit loads deducted.

What it deliberately does not model

  • Assumes a constant return every month. Real equity returns are nothing like constant, and the sequence matters as much as the average.
  • Excludes expense ratio, exit load and tax. All three reduce what you actually receive.

Formula version 1.0.0 · definition 1.0.0 · India · Report a problem with this calculator

Frequently asked questions

Why do two SIP calculators give me different answers?
Almost always the annuity convention. One assumes the instalment arrives at the start of the month and the other at the end, which differs by a factor of one plus the monthly return. On ₹10,000 a month at 12% for ten years that is ₹23,004.