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News Topical, Digital Desk : Mutual funds are included in everyone's portfolio today. Under mutual funds, you can invest in different funds. In these, you get options like equity, hybrid for investment. Today we will know through this article that if someone does a SIP of Rs 10 thousand every month, then how long will it take him to become a millionaire.
Calculations
- Investment amount- 10 thousand per month
- Return- 12%
If someone does a SIP of Rs 10,000 every month, then it will take 21 years to create a fund of Rs 1 crore at a return of 12 percent. In these 21 years, the investor will invest Rs 25,20,000. Returns in mutual funds depend on the fluctuations of the market.
If you are not able to understand which fund to invest in, then we have given some options below. The funds given below have given the highest returns in a year. At the same time, these funds are also low risk.
| Name | AUM | Return | Expense Ratio |
| HSBC Credit Risk Fund | 647.9072 | 21.805 | 0.95% |
| Edelweiss Government Securities Fund(F-IDCW) | 174.6233 | 17.84621 | 0.51% |
| HSBC Credit Risk Fund(M-IDCW) | 647.9072 | 12.18328 | 0.95% |
| Franklin India Corp Debt Fund-A | 1108.76 | 10.37 | 0.25% |
| Bank of India Short Term Income Fund | 223.46 | 10.22 | 0.45% |
Read More: Market this Week: Money rained in the market this week, the amount increased by 55% in a week
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