Just Rs 2,000 a month invested via SIP could grow into Rs 1.62 Lakh in five years, check details here

Investing a small amount every month can grow into a large fund over the years. All you need to do is to choose a systematic investment plan (SIP) and put your money into the right savings instruments. ICICI Bank offers an array of SIP options, where you regularly invest a fixed amount into a mutual fund of your choice and the amount could grow into a huge amount over a specified period.

SIPs safeguard against market volatility

SIPs simplify your investment process and you can start investing in mutual funds through SIPs with amounts as small as Rs 500 per month.  Like a roller coaster, your SIP returns can have their ups and downs, moving with the tide of market changes and the specific mutual fund you opt for. But, SIPs leverage the power of rupee cost averaging potentially helping you average out the highs and lows of the market. If you choose multiple mutual funds across different classes it could help you to minimise your risks posed by market volatility.

ICICI Bank's standout SIPs

ICICI Bank offers a broad spectrum of mutual funds across categories. From blue chip equity options to commodities funds of funds, there are mutual funds for all risk appetites. These funds are curated and managed by seasoned fund managers who guide your investment journey. Remember, past performance  of mutual funds might indicate hefty returns but doesn't guarantee them for the future.

The p[otential earnings though SIP investment in mutual funds

Say you invest Rs 2,000 every month through SIP in an ICICI Bank mutual fund for five years, and let's assume an average annual return of 12 per cent. By the end of five years, your total investment of Rs 1,20,000 could grow into  around Rs 1,62,000. That's the magic of compound interest at play on your Rs 2,000 per month investment.

A Nifty tool: SIP calculators

Ever wish for a crystal ball to see your SIP's future earnings? Check SIP calculators available online. They give you an estimated figure of your future SIP returns, based on your investment amount, frequency, and expected returns.

ICICI Bank's SIPs offer a simplified way to venture into the realm of mutual funds. They spread your investment over time, harnessing the power of compounding to potentially grow your wealth. Remember, your returns will depend on market conditions and your chosen fund's performance. Make sure to pick a mutual fund that aligns with your financial goals and risk tolerance. If you're ever in doubt, consulting a financial advisor is a must.