Calculate SIP returns: the maturity value of a monthly mutual fund SIP with an optional yearly step-up, or the SIP needed to reach a goal.
Investing $5,000.00 a month for 10 years grows to $1,161,695.38. Of that, $600,000.00 is your money and $561,695.38 is return.
| Year | Monthly SIP | Invested this year | Total invested | Value at year end |
|---|---|---|---|---|
| 1 | $5,000.00 | $60,000.00 | $60,000.00 | $64,046.64 |
| 2 | $5,000.00 | $60,000.00 | $120,000.00 | $136,216.00 |
| 3 | $5,000.00 | $60,000.00 | $180,000.00 | $217,538.24 |
| 4 | $5,000.00 | $60,000.00 | $240,000.00 | $309,174.17 |
| 5 | $5,000.00 | $60,000.00 | $300,000.00 | $412,431.83 |
| 6 | $5,000.00 | $60,000.00 | $360,000.00 | $528,785.15 |
| 7 | $5,000.00 | $60,000.00 | $420,000.00 | $659,894.99 |
| 8 | $5,000.00 | $60,000.00 | $480,000.00 | $807,632.83 |
| 9 | $5,000.00 | $60,000.00 | $540,000.00 | $974,107.53 |
| 10 | $5,000.00 | $60,000.00 | $600,000.00 | $1,161,695.38 |
Money shown rounded half-to-even to 2 decimals.
A SIP (systematic investment plan) puts a fixed amount into a mutual fund every month. At a steady return, N monthly installments grow to FV = P × ((1 + i)^N − 1) ÷ i × (1 + i), where i is the annual return ÷ 12. The extra factor (1 + i) counts each installment as invested at the start of its month, the convention AMFI's SIP calculator uses. A step-up raises the installment by a fixed percentage every 12 months.
With the defaults, 5,000 a month for 10 years at an expected 12% a year grows to 1,161,695.38. Of that, 600,000 is the money invested and 561,695.38 is estimated returns. In goal mode the same formula runs backwards: reaching 1,000,000 in 10 years at 12% takes 4,304.05 a month.
The return is held constant and compounded monthly. Fund returns vary from month to month, so treat the result as one scenario; taxes and exit loads are not deducted.
Take 10,000 a month for 15 years at an expected 10% a year.
You invest 1,800,000, so estimated returns are 2,379,242.66, and 57% of the final value is growth. In Excel, =FV(10%/12, 180, -10000, 0, 1) gives the same figure; the final 1 tells it that payments come at the start of each period. Leave it out and you get the end-of-month value, 4,144,703.46, which is 34,539.20 less: one month's growth on the whole balance.
With INR selected in settings, the result is grouped in lakhs and crores, so 4,179,242.66 shows as 41,79,242.66. SIP is the Indian name for the plan, but the arithmetic is the same for a monthly investment into any fund in any currency.
Because the monthly rate is the yearly return ÷ 12, a 12% entry compounds to 12.68% a year: 1.01^12 − 1 = 12.6825%.
That matters because fund factsheets and index histories report returns as compound annual growth rates. If you expect a fund to grow 12% a year in that sense, the matching monthly rate is 1.12^(1/12) − 1, and the figure to enter is 12 × (1.12^(1/12) − 1) = 11.39%. Over 15 years at 10,000 a month the difference is large:
The first figure overstates the second by 284,889.69, about 6%. Convert first whenever your return assumption comes from a CAGR.
Maturity values for 10,000 a month at four steady returns, using the calculator's convention:
| Years | Invested | 8% | 10% | 12% | 14% |
|---|---|---|---|---|---|
| 5 | 600,000 | 739,667.02 | 780,823.81 | 824,863.67 | 872,007.35 |
| 10 | 1,200,000 | 1,841,656.75 | 2,065,520.20 | 2,323,390.76 | 2,620,913.83 |
| 15 | 1,800,000 | 3,483,451.43 | 4,179,242.66 | 5,045,760.00 | 6,128,537.79 |
| 20 | 2,400,000 | 5,929,472.18 | 7,656,969.10 | 9,991,479.19 | 13,163,462.75 |
| 25 | 3,000,000 | 9,573,665.71 | 13,378,903.48 | 18,976,350.92 | 27,272,777.15 |
| 30 | 3,600,000 | 15,002,951.78 | 22,793,253.24 | 35,299,137.74 | 55,570,556.28 |
The return assumption dominates long horizons. Over 5 years, 14% instead of 8% adds 18% to the result; over 30 years it multiplies it by 3.7. At 30 years, moving the assumption from 12% to 14% adds 57%, more than investing half as much again each month would. Scale the table for other amounts: 5,000 a month is half of each figure.
Starting at 10,000 a month at 12%, raising the installment every 12 months:
| Step-up | Years | Final monthly SIP | Total invested | Maturity value |
|---|---|---|---|---|
| 0% | 15 | 10,000.00 | 1,800,000.00 | 5,045,760.00 |
| 5% | 15 | 19,799.32 | 2,589,427.63 | 6,530,751.93 |
| 10% | 15 | 37,974.98 | 3,812,697.80 | 8,683,849.43 |
| 15% | 15 | 70,757.06 | 5,709,649.30 | 11,835,224.59 |
| 0% | 20 | 10,000.00 | 2,400,000.00 | 9,991,479.19 |
| 5% | 20 | 25,269.50 | 3,967,914.49 | 13,737,623.28 |
| 10% | 20 | 61,159.09 | 6,872,999.94 | 19,888,715.49 |
| 15% | 20 | 142,317.72 | 12,293,229.91 | 30,255,941.57 |
Over 20 years a 10% step-up raises the maturity value by 9,897,236.30, of which 4,472,999.94 is extra money you put in. Each unit invested also earns less: returns are 3.16 times the amount invested without a step-up and 1.89 times with a 10% step-up, because the later, larger installments have less time to compound. Check the final-year installment before committing. A 15% step-up over 20 years ends at more than 14 times the starting amount, which assumes your income grows as fast.
CAGR, (end value ÷ start value)^(1 ÷ years) − 1, describes a single lump sum. A SIP has a different investment date for every installment, so the return has to weight each one by how long it was invested. XIRR does that: it finds the yearly rate at which every dated installment, grown to the valuation date, adds up to the current value. Excel's XIRR counts time in days over a 365-day year (Microsoft).
Take 5,000 invested on the 1st of each month through 2025, worth 64,000 on 1 January 2026. The gain is 4,000 on 60,000 invested, an absolute return of 6.67%. Treating that as a one-year CAGR understates the result, because the average installment was invested for only about six and a half months. XIRR on the 13 dated flows gives 12.48% a year.
XIRR is an effective annual rate, so compare it with the effective rate of your calculator input, not the input itself. Run the calculator's own flows through XIRR, 5,000 on the 1st of each month at 12% growing to 64,046.64, and the result is 12.63%. That is close to the 12.68% effective rate, with the gap coming from months of unequal length. The XIRR calculator handles the dated flows, and the ROI and CAGR calculator covers lump sums.
The projection assumes the same return every month. Real returns arrive unevenly, and for a SIP the timing of a fall matters because the balance is largest at the end. On 10,000 a month for 15 years at 12%, a 20% market fall at the end of year 1 cuts the maturity value by 136,316.10. The same fall at the end of year 8 costs 745,194.00, and just before maturity it costs 1,009,152.00. Moving money into lower-risk funds as the goal date approaches limits that exposure.
Pauses cost more than the money skipped. The calculator cannot skip months, but the cost is easy to work out: a year's installments are worth 12.8093 times the monthly amount at the end of that year, and then grow for the years left. Stopping 10,000 a month during year 5 of the 15-year plan leaves 10,000 × 12.8093 × 1.01^120 = 422,757.38 less at maturity, 3.5 times the 120,000 not invested.
The figure is also before costs and taxes. Enter a return net of the fund's expense ratio, and deduct tax on gains when you redeem. To see what a maturity value is worth at today's prices, use the inflation calculator. To test whether it covers retirement spending, use the retirement calculator.
Checked against: Python decimal: 5000 × ((1.01^120 − 1)/0.01) × 1.01 = 1161695.3818…; equals Excel =FV(1%,120,-5000,0,1)
Checked against: AMFI Mutual Funds Sahi Hai SIP page: invested about ₹4.20 lakh, corpus around ₹6.60 lakh; Python decimal gives 659894.9857…
Checked against: Python decimal: 1000 × ((1.01^12 − 1)/0.01) × 1.01 = 12809.3280…
Checked against: Python decimal year-by-year sum of 5000·1.1^y·a·1.01^(12(9−y)): 1687163.1321…
FV = P × ((1 + i)^n − 1) ÷ i × (1 + i), with P the monthly amount, i the annual return ÷ 12 and n the number of months. AMFI's example of 5,000 a month for 7 years at 12% gives 420,000 invested and a corpus of about 6.60 lakh; the exact figure is 659,894.99. Excel's =FV(1%, 84, -5000, 0, 1) returns the same.
At a steady 12% a year, reaching 1 crore (10,000,000) takes 43,040.54 a month over 10 years, 19,818.62 over 15 years, 10,008.53 over 20 years and 5,269.72 over 25 years. Each extra five years roughly halves the monthly amount, because the earliest installments compound for longer. A lower return raises every figure.
A SIP whose monthly amount rises by a fixed percentage each year, usually in line with salary. Starting at 5,000 a month with a 10% yearly step-up at 12% for 10 years, the installment reaches 11,789.74 in the final year, 956,245.48 is invested and the maturity value is 1,687,163.13, against 1,161,695.38 without the step-up.
At a constant return, yes, because all the money compounds from the first day. 600,000 invested at once at 12% (compounded monthly) grows to 1,980,232.14 in 10 years, against 1,161,695.38 when the same total is spread as 5,000 a month. A SIP spreads the purchase price over many months, which reduces the risk of investing everything just before a fall; this constant-return model does not capture that.
Accuracy depends on your inputs and the method's assumptions. Decimal arithmetic uses 50 significant digits, but estimates, numerical methods and source data can be less precise; the displayed rounding does not remove those limits. It is checked against 7 worked examples whose answers come from independent sources; for example, “5,000 a month at 12% for 10 years” is checked against Python decimal: 5000 × ((1.01^120 − 1)/0.01) × 1.01 = 1161695.3818…; equals Excel =FV(1%,120,-5000,0,1).
Microsoft Excel FV function (type = 1 for payments at the start of each period); AMFI Mutual Funds Sahi Hai — SIP calculator (FV = P((1+i)^n − 1)/i·(1+i), i = annual/12).
For planning only. Lenders, tax authorities and markets apply their own rounding, fees and rules; confirm figures with them before you commit.
7 worked examples with independently sourced answers ship with this calculator. They run in the test suite; you can run them here too.
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