ET Mutual Funds Explains: How much will you earn if you increase your SIP investment every year?

economictimes.indiatimes.com:

SIP mode, you can just invest as per the amount you can afford. When you grow, your income increases, and you plan to invest more, then you can do so through step-up SIP. Many mutual funds do not allow you to increase your SIP amount in between the SIPs. In that case, if you plan to increase your investment from next year say by a fixed amount or a fixed percentage then step-up SIP is the option. Step-up SIP gives chances of building greater wealth.
With step-up SIP, you can start your investment with a basic amount and then increase the amount by a certain fixed percentage or fixed amount till it reaches your goal. This helps the investor estimate the growth of SIP investment if the investor wants to increase the investment every year. Step-up SIP helps you estimate the future value of your SIP investment, which increases over a period by a fixed percentage or amount.
To calculate how much earn if you increase your SIP investment every year, you just need a computer, excel, and investment details such as monthly SIP contribution, an annual step-up you want, the expected rate of return you want on your investments, and the period for which you are increasing your investment.

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Step 1: Enter details of your SIP investment

Suppose your initial SIP amount is Rs 10,000 per month for a tenure of 5 years. In the first column enter the SIP dates and in the next column enter the SIP amount.

Step 2: Enter the amount or