BOI SIP Calculator 2024 - Calculate BOI SIP Returns Online
A joint venture between the Bank of India and AXA Investment Managers, BOI is an Indian nationalized bank that caters to various investment objectives of its customers. Customers can opt for the SIP method or the lump sum method of investment to invest in multiple funds through BOI. With the BOI SIP Calculator, an investor can easily and quickly calculate the expected returns receivable at the end of the tenure.
- 4.8~ Rated
- 7.7 Crore Registered Consumer
- 50 Partners Insurance Partners
- 4.2 Crore Policies Sold
SIP Benefits
- Start SIP with as low as ₹1000
- No hidden charges
- Save upto ₹46,800 in Tax under section 80C^
- Zero LTCG Tax¶
- Disciplined & worry-free investing
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BOI SIP Calculator
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What is SIP and How to Start Investing in SIP?
One of the emerging investment types becoming highly popular these days is Systematic Investment Plans or SIPs. SIP is a type of mutual fund^^ investment in which an individual can invest a fixed amount at regular intervals and attain high returns at the end of the tenure. Some of the top reasons one should invest in a SIP are:
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It helps inculcate a habit of savings in an individual that brings discipline to their life
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Serves a dual purpose of investment and savings
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Investments as low as Rs. 500 can be made in some SIPs
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Eliminates financial burden during the financial crisis
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Helps create a decent financial corpus
One can invest their money in SIPs through any reliable portal of investment and easily start investing after the completion of KYC.
- Insurance Companies
- Mutual Funds
| Returns | ||||
|---|---|---|---|---|
| Fund Name | 3 Years | 5 Years | 10 Years | |
| Virtue II PNB Metlife | 17.13% | 24.85% |
16.54%
View Plan
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| Large Cap Equity Fund Tata AIA | 17.27% | 20.61% |
15.01%
View Plan
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| Pure Equity Birla Sun Life | 16.12% | 20.92% |
14.98%
View Plan
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| Grow Money Plus Fund Bharti AXA | 13.93% | 17.49% |
14.22%
View Plan
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| Pure Stock Fund Bajaj Allianz | 15.48% | 19.56% |
14.18%
View Plan
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| Diversified Equity Fund HDFC Standard | 13.59% | 16.57% |
13.95%
View Plan
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| Growth Super Fund Max Life | 14.33% | 16.21% |
12.81%
View Plan
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| Equity Fund SBI | 13.77% | 15.3% |
12.1%
View Plan
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| Bluechip Fund ICICI Prudential | 12.07% | 14.63% |
11.3%
View Plan
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| Equity Large Cap Fund Edelwiess Tokio | 11.75% | 14.25% |
11.15%
View Plan
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Updated as of Nov 2024
| Returns | ||||
|---|---|---|---|---|
| Fund Name | 3 Years | 5 Years | 10 Years | |
| Active Fund QUANT | 24.92% | 31.48% |
21.87%
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| Flexi Cap Fund PARAG PARIKH | 20.69% | 26.41% |
19.28%
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| Large and Mid-Cap Fund EDELWEISS | 22.34% | 24.29% |
17.94%
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| Equity Opportunities Fund KOTAK | 24.64% | 25.01% |
19.45%
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| Large and Midcap Fund MIRAE ASSET | 19.74% | 24.32% |
22.50%
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| Flexi Cap Fund PGIM INDIA | 14.75% | 23.39% |
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| Flexi Cap Fund DSP | 18.41% | 22.33% |
16.91%
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| Emerging Equities Fund CANARA ROBECO | 20.05% | 21.80% |
15.92%
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| Focused fund SUNDARAM | 18.27% | 18.22% |
16.55%
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Updated as of Nov 2024
BOI SIP Calculator 2024
The SIP Calculator is an online financial resource that provides investors with information on how much they need to invest to reach their desired financial corpus. This user-friendly and efficient tool offers quick results for even complex financial calculations. The Bank of India SIP Calculator takes into consideration the current market conditions. Even though the financial market is unpredictable, the BOI SIP Calculator 2024 calculates the returns keeping the current market scenario in mind. It's important to note that the computed results from the calculator may not always match the actual results.
How to Use the BOI SIP Calculator?
Using the Bank of India Systematic Investment Plan – SIP Calculator is extremely easy and only requires basic details to be filled in related to the SIP scheme. Here are the simple steps one needs to follow to calculate the returns on your Bank of India (BOI) SIP:
Step 1: Move the slider to select the amount you wish to invest monthly
Step 2: Select the expected rate of return you wish to attain yearly by moving the slider
Step 3: Choose the tenure for which you wish to invest in the BOI SIP scheme
Step 4: The Total Invested Amount, Total Interest Earned, and Maturity Amount will be shown on your screen
How to Calculate the BOI SIP Returns in 2024?
The below-mentioned formula is used for the computation of returns for Bank of India SIPs schemes:
FV = P x ({[ 1+ i] ^ n -1} / i) x (1+i)
Here is the elaboration:
FV = Future Value (The amount to be received after maturity)
P = amount that the investor invests
i = The rate of interest periodically, that is, annual return rate percentage / 12
n = Total number of months
Illustration
Mr. XYZ invests Rs. 1,000 every month in his BOI SIP scheme for a tenure of 1 year at a 12% interest rate. His Future estimated maturity return value would be:
Future Value = 1,000 ({[1 + 0.01] ^ {12 – 1} / 0.01) x (1 + 0.01)
Future Value = Rs. 12,809 yearly (approximately)
Highlights of the Bank of India SIP Calculator 2024
One can invest in mutual funds in 2 ways:
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Systematic Investment Plan or SIP
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Lump-sum
A SIP is considered a better investment option when compared to the lump sum method of investment in mutual funds because:
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It inculcates a habit of regular savings.
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One can deposit money at regular intervals without being overburdened to pay all the amount in one go.
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Pocket-friendly deposits can be made monthly, keeping availability in mind
The Bank of India Systematic Investment Plan Calculator is a beneficial tool in the following ways:
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Great investment option for beginners.
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Minimal details are required to make an investment
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Calculators provide quick and accurate results in comparison to manual calculations.
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The hassle-free tool with easy-to-understand options.
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Provides assistance to investors as to how much they should invest in fulfilling their future goals.
Investment Strategy using the Bank of India SIP Calculator 2024
Investment is an important aspect of financial planning, and the Bank of India SIP Calculator can help individuals develop an effective investment strategy. A systematic investment plan (SIP) is a convenient and disciplined approach to investing in mutual funds, allowing individuals to invest a fixed amount of money at regular intervals. The BOI SIP Calculator 2024 can be used to determine the amount of money that needs to be invested each month to achieve a specific financial goal.
To use the Bank of India SIP Calculator, individuals need to enter their investment horizon, the expected rate of return, and the amount of money they want to invest each month. The calculator will then provide an estimate of the total investment required to reach the financial goal and the amount of money that will be generated in return.
Investors can also use the BOI SIP Calculator to compare different investment options and determine which one is best suited for their financial goals and investment horizon. In addition, by regularly investing a fixed amount of money, individuals can take advantage of the power of compounding and build their wealth over time.
Conclusion: Make smart investmentsÂ
In conclusion, the Bank of India SIP calculator is useful for individuals looking to invest in mutual funds through the systematic investment plan (SIP) route. It helps investors determine the amount of money they need to invest each month to reach their financial goals based on their investment horizon and expected rate of return. With its user-friendly interface and easy-to-use features, the BOI SIP calculator 2024 makes it simple for investors to plan their investments and keep track of their progress toward their financial goals.
FAQs
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What is the SIP of Bank of India?
The Bank of India SIP is a systematic investment plan for investing in mutual funds offered by the bank. The BOI SIP Calculator 2024 helps individuals determine the amount needed to invest monthly to reach their financial goals and provides an estimate of total investment and returns. It assists in creating an investment strategy based on financial goals, investment horizon, and risk tolerance. -
What information do I need to use the BOI SIP Calculator?
To use the Bank of India SIP Calculator, you need to enter your investment horizon, the expected rate of return, and the monthly investment amount. -
Is the BOI SIP Calculator 2024 accurate?
The accuracy of the Bank of India SIP Calculator depends on the input data and market conditions. While the calculator considers the current market scenario, the financial market is unpredictable, and the computed results may not always match the actual results. Therefore, it is important to use the calculator as a guide and not as a guarantee of future returns. -
Can I calculate the SIP amount for different investment periods using the Bank of India SIP calculator?
Yes, the Bank of India SIP Calculator allows you to calculate the SIP amount for different investment periods.
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved
insurance
plan.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^Section 80C allows annual deductions of up to ₹1.5 lacs from the taxable income. Section 10(10D) provides tax-free maturity benefits for investments of up to ₹2.5 Lacs/ year, on policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.
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