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A Step-Up SIP Calculator is a financial tool that estimates the future value of your Systematic Investment Plan (SIP) investments when you increase your monthly SIP contribution by a certain percentage each year.
Unlike a regular SIP where the investment amount remains fixed, a step-up SIP gradually raises your contribution annually, helping you align your investments with your growing income and beat inflation.
To use the calculator, you enter your initial monthly SIP amount, investment duration in years, your expected annual rate of return, and the percentage by which you plan to increase your SIP every year. The calculator then projects your total investment cost, maturity value, and potential growth by considering monthly compounding and yearly increments in your SIP amount. This helps you visualize how gradually increasing your SIP can enhance your long-term wealth creation.
In essence, the Step-Up SIP Calculator helps investors plan disciplined investment increments and see how these increasing investments grow over time to achieve their financial goals effectively