Canara Bank SIP Calculator
Holding the position of India’s 2nd oldest management company, Canara Bank started a joint venture with Robeco group to manage the Canara Robeco Funds. Investments under the Canara Robeco funds can be made either through the SIP method or the lump sum method of investment, whichever is suitable for the investor. The Canara Bank SIP Calculator helps the investors calculate the returns they can get by investing their money in such funds for a long term period.
- 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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SIP Calculator
- Canara Bank SIP Calculator
Canara SIP Calculator
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What is SIP?
SIP or Systematic Investment Plan is an investment option type of Mutual Funds^^ provided to the investors. It involves pocket-friendly regular deposits, pre-defined tenure, and great returns making it an affordable and popular investment option amongst new and old investors. Regular investment in a SIP can be either monthly, quarterly, or weekly as per the investor’s convenience.
- 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
|
|
| Pure Equity Birla Sun Life | 16.12% | 20.92% |
14.98%
View Plan
|
|
| 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
Why to Invest in SIP?
Even though Systematic Investment Plans are gaining popularity these days, it is important to understand all the aspects of an investment before putting your hard-earned money in it. SIP is a way of investment in mutual funds as every investor does not have the capacity to invest in it directly. Under the SIP scheme, an investor is issued some units of a mutual fund as per the invested amount. SIPs are convenient, easy to invest in, and offer great returns. Here are some of the reasons why an investor should opt for SIPs as an investment option:
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It develops a disciplined savings habit in an individual that brings financial peace in their life
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Works both as an investment as well as a savings option
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Some SIPs allow monthly investments to be as minimal as Rs. 500
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Systematic Investment Plan scheme helps in eliminating financial burden during any financial crisis
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It helps in creating a decent financial corpus after retirement
Deposits can be made in a SIP through any reliable portal of investment after the completion of KYC.
Canara Bank SIP Calculator
SIP Calculator is an easy-to-use online financial tool provided by almost all the banks and financial institutions that offer Systematic Investment Plan schemes to their customers. The main purpose of a SIP calculator is to make the life of an investor easier. An investor, while using a SIP calculator can determine the amount they need to invest in order to attain their desired financial corpus in the future. Canara Bank SIP Calculator is one of the easiest tools in the market that helps attain the desired results in seconds for any complex financial calculation related to Systematic Investment Plans.
It is important to note that sometimes the computed results on the Canara Bank SIP Calculator and actual results may vary keeping the financial market volatility in mind.
How to Use Canara Bank SIP Calculator?
Usage of the Canara Bank Systematic Investment Plan Calculator is as easy as one can think of. All you have to do is put in some of the basic details related to the Canara Band SIP scheme on the SIP calculator and results will be reflected in no time on your screens. Here are a few simple steps an investor needs to follow in order to calculate the Canara Bank SIP returns:
Step 1: Drag 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 the Maturity Amount will be shown on your screen
How to Calculate the Canara Bank SIP Returns?
The below mentioned formula is used for the computation of returns for Canara Bank SIP 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 Canara Bank SIP scheme for a tenure of 1 year at a 12% interest rate. His Future estimated maturity return value will 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 Canara Bank SIP Calculator
An investor can opt for either of the ways to make investments in mutual funds, that is,
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Lump-sum, and
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Systematic Investment Plan or SIP
Investors with moderate to low-risk appetite generally consider SIPs as a better investment option in comparison to the lump sum method of investment in a mutual fund 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 the availability in mind
Canara Bank 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 to fulfill their future goals.
FAQ's
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Is there a cap on SIP investments?
No, there is no capping when it comes to investments made in SIPs or Systematic Investment Plans. -
How does Canara Bank SIP Calculator work?
And: Canara Bank SIP Calculator is a simple tool. All you have to do is enter the SIP installment value, expected rate of return annually, and the number of years you wish to invest in the SIP. Within seconds your maturity value will be calculated. -
Can I withdraw my SIP after some time?
A normal SIP can be withdrawn anytime as per the investors’ convenience. Although, if it is an ELSS Equity Linked Savings Scheme, it comes with a 3-year lock-in period. -
How is SIP Calculated?
The following formula is used to compound the SIP returns with the help of SIP Calculator:
FV = P x ({[ 1+ i ] ^ n-1 } / i ) x (1+i)
Here,
FV = Future Value (Maturity amount to be received)
P = Amount that the investor invests
i = The rate of interest periodically
n = Total number of payments made by the investor to date
Example, If Rahul invests Rs. 1,000 for 12 months at the rate of 12% in an Axis bank SIP, then is maturity amount at the end of the tenure will be:
FV = 1,000 ({[1 + 0.01] ^ {12 – 1} / 0.01) x (1 + 0.01)
FV = Rs. 12,809 yearly (approximately) -
Is SIP good for long-term investment?
Absolutely yes. In fact, SIP provides the best returns if investments are made for a longer-term.
†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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