To become a millionaire, you have to deposit Rs 100 daily, know the details

Mutual Funds: Mutual funds are becoming a popular investment option. People are preferring to invest more especially in Mutual Funds through Systematic Investment Plan (SIP). Through SIP, even those people who do not have a large amount to invest can make a big fund. Today we will tell you about some mutual fund schemes giving great returns, but before that let us know what is this SIP.

Actually money is invested in SIP every month. Investment in SIP can be closed, reduced or increased at any time. You can continue to invest in the same scheme even after discontinuing the SIP.

Now we will tell you about such a way in which you can become a millionaire by investing Rs 100 per day. For this you have to invest in SIP of Equity Market Mutual Fund. There is a possibility of getting 10 to 15 percent return on investing 3 thousand rupees every month in the SIP of the equity market.

Suppose you invest 3 thousand rupees every month for a full 30 years, then your total investment will be 10 lakh 95 thousand rupees. Suppose you get an average return of 12 percent on the money invested, then you will get a total return of Rs 97.29 lakh. That is, you will get a lump sum amount of 1.08 crores.

The track record of Equity Mutual Funds over the years has been quite impressive. Some equity mutual funds have given returns of more than 100 percent to investors in the last one year.

(Investment advice in any fund is not given by ABP News here. The information given here is for informational purposes only. Mutual fund investments are subject to market risk, read all scheme documents carefully. NAV can fluctuate depending on the factors and forces influencing the security market including fluctuations in interest rates.The past performance of a mutual fund may not necessarily reflect the future performance of the schemes. The mutual fund does not guarantee or guarantee any dividend under any of the schemes and is subject to the availability and adequacy of distributable surplus. Investors are advised to review the prospectus carefully and seek specific legal, tax and scheme You are requested to seek expert professional advice regarding the financial implications of investing/participating in