ICICI Systematic Investment Plan- (SIP)

ICICI is India’s leading financial organization. They provide the best savings schemes in the nation. They offer Systematic investment schemes and mutual fund schemes of equity, debt, and hybrid funds.

What is ICICI’s Systematic investment plan?

These Systematic Investment plans are offered by financial organisations in which you can invest a small amount in a particular period and with draw lump sum amount after the completion of the period

Why do we need to invest?

In today’s competitive word we find it difficult to meet our requirements. Expenses of everything are increasing day by day. It is not just enough to earn money and spend it. Just as we give importance to earn money, we must also give importance to savings as well the following are the benefits of saving your money.            

  • To grow your  money- most of the investments such as stocks, certificates of deposit tend to increase your  savings after  the investment period

  • Useful after retirement

  • You will  receive higher returns

  • Fulfil your future financial dreams

How does ICICI prudential plan work?

In ICICI prudential plan fixed amount is debited from your bank account either in weekly, monthly basis. The amount which is invested will never change.  The minimum amount which needs to be invested in RS.500 but there is no maximum amount limit.

Different mutual fund schemes offered by ICICI

ICICI offers various schemes to meet different investment requirements; while saving the amount by lump sum payment they provide guaranteed returns.

  • ICICI opportunity fund– this policy is open ended equity scheme which provides high returns after a long period. By investing in different portfolio. This type of scheme is ranked the top selling fund of people who wish to invest in a high risk and require to take more benefits after retirement period

  • ICICI multi cap growth fund- this type of fund aims to get high returns by investing in large cap companies (reliance, Tata), mid cap companies (godrej) and small cap companies (nesco, thyrocare). This provides high risk of investment and best suited for high returns.

  • ICICI maximizer fund V- this type of plan invests in only large cap and mid cap companies and creates wealth after long period.

  • ICICI blue chip fund- this scheme is open ended equity which invests only in large cap companies. Best suitable for high risk appetite it generates capital appreciation for long term

  • ICICI Multi cap balance fund- this plan provides capital appreciates with stable returns. This plan includes large cap, small cap and mid cap industry investments. This plan offers consistent returns with moderate risk

These are the types of mutual funds which are offered by ICICI prudential savings plan. They have large number of plans compared to any other investment plan, such that it will convenient for the investor to choose between many options.

ICICI SIP calculator

Systematic investment plan has become the most common investment plans in mutual funds and it is easy to use. To receive more returns it should be planned well. This can be done by SIP calculator. The investor can find from the estimated earnings for a pre determined amount. This pre determined amount is invested in a regular investment of time. Using this you can create financial corpus to meet your short term goals and evaluate the amount. Using this calculator you can analyze all your finances and plan ahead to achieve your goals.

Need for SIP calculator

We might have many future goals. These future goals cannot be achieved without planning. We need to make sure proper planning of finances are done. This planning can be done with the help of SIP calculator. This calculator pre determines the amount from our earnings and helps us to plan ahead for our future.

Working of ICICI SIP calculator

To calculate the estimated value of investment, this calculator uses certain key data. Let us know few important steps.

  • Initially you must enter the monthly, weekly and annual SIP amount which needs to be invested

  • Then you need to know the return date of the investment. As per the past performance the evaluation process is completed.

  • Finally you need to select the investment tenure; this is a crucial part for investors to select the tenure. The maximum tenure which is offered by SIP is 6 months. For maximum returns you need longer tenure.

Key benefits of SIP calculator

  • This calculator helps the investors to plan in a more systematic way.

  • This simplifies difficult calculations

  • This evaluates results in effective way

  • It is used online and completely free

  • You need to just enter the details and the results will be displayed

  • This is useful for first time and experienced investors

  • The calculator of SIP helps to plan in an organized way for all your future goals

  • Makes  you to know about the amount which you will receive periodically

  • This is completed in a short duration

Summary

Investment plays an indispensable role in our lives but most of the times we tend to ignore it. We need to give equal importance to both earnings as well as saving then only we can lead a balanced. We cannot normally invest we require investment plan. In the above article we clearly learn about ICICI prudential savings plan its types of funds, the features, benefits and the method of using SIP calculator. This plan will be useful for even beginners who do not know about investment and experienced investors as well. After the investment period  you will receive guaranteed benefits.