Mutual fund calculator: Monthly SIP of ₹10,000 turns to ₹21 lakh in 7 years
Financial advisors tend to favour long-term investments in equities mutual funds of at least five years. By investing in a diverse group of companies from various industries, equity mutual funds aid in risk reduction. By making long-term investments, one may get market-beating returns with minimal risk. ELSS funds are the only investment choice available on the financial market with a 3-year lock-in period and section 80C tax advantages. Investments in ELSS funds are frequently thought of as a way to build long-term wealth and qualify for tax deductions of up to ₹1.5 lakh annually. Here is an example of an ELSS fund that over the course of seven years, turned a monthly SIP of ₹10,000 into ₹21 lakh, keeping in mind the long-term investment strategy in equity mutual funds.
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