Mutual funds are a type of investment similar to fixed deposits but with a slightly higher level of risk. Generally, mutual funds are known for their potential for higher returns, for example, Indian mutual funds have an average return of 20% to 35% (source.)
DMY: stands for Daily, Monthly, and Yearly Interest, which means you can choose to withdraw your interest each day, month, or year. With this option, your principal amount will always remain the same and won't increase.
Maturity Amount: refers to the amount you receive when you leave your money with the insurer for a specified period of time (e.g., 20 years) and then decide to terminate your mutual fund investment. This amount will be the maturity or closing amount, and it is always higher than the DMY amount.
No, the calculated return is an estimate based on your inputs. Mutual fund returns can fluctuate due to various market factors.
Typically, you'll need to enter your initial investment amount, investment period (in years), and an estimated rate of return (provided by you or based on the mutual fund's historical performance).
The calculator doesn't account for fees, taxes, or inflation, which can impact your actual returns.
No, the calculator is a starting point. Consider your financial goals, risk tolerance, and investment diversification before making investment decisions.
If you are concerned about your investments and the amount you are investing is significant for you, you can find resources for the best mutual funds to invest in from trusted internet sources. You can also seek help from a finance advisor or a freelance finance adviser.
