SIP Calculator (₹) with Annual Step-Up

Estimate what a monthly SIP in a mutual fund could grow to in rupees, with an optional yearly increase in the instalment.

How the SIP calculator works

A SIP (systematic investment plan) puts a fixed amount into a mutual fund every month. Each instalment buys units at that day’s NAV and then grows for the months that remain. The calculator adds up the growth of every instalment at the return you enter.

Without a step-up it uses the standard future-value formula for a series of payments made at the start of each period:

FV = P × [((1 + i)ⁿ − 1) ÷ i] × (1 + i)

• P is the monthly SIP amount.
• i is the monthly rate: the expected annual return divided by 12 (12% a year gives 1% a month, or 0.01).
• n is the number of monthly instalments (years × 12).
• The final × (1 + i) means each instalment earns a full month of return in the month it is paid.

This is the formula shown on the SIP calculator of AMFI’s investor-education site, Mutual Funds Sahi Hai, and it is the method most Indian fund-house and broker calculators use, so results here should match theirs for the same inputs.

With a step-up, the monthly amount rises by the chosen percentage once a year (in months 13, 25, 37 and so on). There is no single short formula for that, so the calculator works month by month: value = (previous value + this month’s instalment) × (1 + i). With a step-up of 0% this gives exactly the same answer as the formula above.

Worked example

Take a SIP of ₹10,000 a month for 15 years at an assumed 12% a year.

• i = 12 ÷ 12 ÷ 100 = 0.01, and n = 15 × 12 = 180.
• (1.01)¹⁸⁰ ≈ 5.9958, so [(5.9958 − 1) ÷ 0.01] × 1.01 ≈ 504.58.
• FV ≈ ₹10,000 × 504.58 = ₹50,45,760 (about ₹50.46 lakh).

You would have invested ₹18,00,000 (180 × ₹10,000), so the estimated returns are ₹32,45,760. If the same SIP is stepped up by 10% every year, the invested amount rises to about ₹38,12,698 and the estimated value to about ₹86,83,849. Open the year-by-year table to see how most of the growth arrives in the later years, when the corpus is largest.

Assumptions and limits

• Returns are not guaranteed. Equity mutual funds have no fixed rate of return. The figure you enter is an assumption, and real returns vary from year to year and can be negative over short periods. As AMFI puts it, past performance may or may not be sustained in future.
• The calculator uses one constant return for the whole period. Real SIP results depend on the order of good and bad years, so two investors with the same average return can end with different amounts.
• Use a return after the fund’s expense ratio. The NAV already reflects fund expenses, but if you base your assumption on an index return, subtract the expense ratio first.
• Taxes, exit loads, stamp duty on purchases and inflation are not deducted. ₹50 lakh in 15 years will buy less than ₹50 lakh does today.
• Figures are rounded to the nearest rupee for display.

How SIP gains on equity funds are taxed

Under the Income-tax Act, 2025, which replaced the Income-tax Act, 1961 from 1 April 2026, the rates for equity-oriented mutual funds carry over from the July 2024 Budget changes:

• Long-term capital gains (units held for more than 12 months): 12.5% on gains above ₹1.25 lakh in a tax year, under section 198 of the new Act (section 112A of the old Act).
• Short-term capital gains (12 months or less): 20%, under section 196 of the new Act (section 111A of the old Act).

Surcharge and 4% health and education cess apply on top. Each SIP instalment counts as a separate purchase with its own holding period, and units are treated as sold first-in, first-out, so a single redemption can contain both long-term and short-term gains. Debt funds follow different rules. Check the current rules or speak to a tax professional before you redeem.

Frequently asked questions

Is the return shown by the SIP calculator guaranteed?

No. It is the result of the return you typed in, applied evenly every month. Equity fund returns depend on the market and can be lower than expected, or negative, for several years.

Why does the formula multiply by (1 + i) at the end?

Because SIP instalments are invested at the start of each month, every instalment earns one month of return in its first month. Without that factor the formula would assume payment at the end of the month and give a slightly smaller value.

What step-up rate should I use?

Many investors link it to expected salary growth, often 5% to 10% a year. A step-up has a large effect over long periods, so try a few rates and compare the totals in the year-by-year table.

Is a SIP better than investing a lump sum?

It depends on whether the money is already available and how the market moves after you invest. Our guide to SIP vs lump sum works through both cases with numbers.

Related tools and guides

• All investor calculators, including CAGR, compound interest and loan EMI
• SIP vs lump sum: which is better for long-term investors?
• Large cap, mid cap and small cap funds explained
• Brokerage and STT calculator for direct share trades

Sources

• AMFI, Mutual Funds Sahi Hai: SIP calculator, formula and disclaimer (checked 6 November 2026).
• Income Tax Department: Income-tax Act, 2025, section 198 (long-term capital gains on STT-paid equity shares and equity-oriented fund units) and section 196 (short-term gains).
• Tax rates as of 6 November 2026. Rates and thresholds can change in each Union Budget.

This calculator gives estimates for planning only. It is not financial or tax advice, and mutual fund investments are subject to market risks.