SIP calculator — and what the maturity figure is actually worth
What a monthly investment can grow to, and what it is worth after inflation.
After everything
Paying in ₹12,00,000.00 over 10 years grows to ₹23,23,390.76 nominal. After tax and inflation it is worth ₹12,24,894.76 in today’s money.
The tax figure treats each instalment's gain as long-term. Units held for 12 months or less need short-term tax instead.
From the headline figure to the real one
- Maturity value at 12% a year · you pay in ₹12,00,000.00₹23,23,390.76
- Gain covered by the exemption · not taxed₹1,25,000.00
- Less tax: 12.5% on ₹9,98,390.76, plus 4% cess− ₹1,29,790.80
- After tax, before inflation₹21,93,599.96
- Divided by inflation over 10 years · restating it in today's prices÷ 1.7908
- Worth in today's money, after tax₹12,24,894.76
52.72% of the headline figure survives the two deductions, on the return, tax and inflation assumptions you entered. Every one of those is yours — this page supplies no rate and forecasts nothing.
Instalments are treated as debited at the start of each month, so each one earns that month's growth — this is the (1 + i) factor at the end of the formula.
The return is a flat annual figure applied to every year. A market-linked investment does not deliver the same number each year, so this is a straight-line assumption, not a description of how any fund behaves.
Tax is applied as though the whole corpus is redeemed in one financial year, using one year's exemption. Units bought within 12 months of that redemption would be short-term instead, which this figure does not separate out.
Monthly rate i = 12 ÷ 1200 = 0.010000 · 120 instalments · monthly rate = annual ÷ 12 (nominal convention)
How much is your money, and how much is growth?
The bottom of each bar is what you paid in, and the top is growth at your rate.
- Paid in
- Growth
The rate is your own guess.
Year 10 · Paid in ₹12,00,000.00 · Growth ₹11,23,390.76 · Value ₹23,23,390.76 · In today's money ₹12,97,369.27
Year by year
| Year | Paid in by then | Value | Of which growth | Value in today's money |
|---|---|---|---|---|
| 1 | ₹1,20,000.00 | ₹1,28,093.28 | ₹8,093.28 | ₹1,20,842.72 |
| 2 | ₹2,40,000.00 | ₹2,72,432.00 | ₹32,432.00 | ₹2,42,463.51 |
| 3 | ₹3,60,000.00 | ₹4,35,076.47 | ₹75,076.47 | ₹3,65,298.60 |
| 4 | ₹4,80,000.00 | ₹6,18,348.34 | ₹1,38,348.34 | ₹4,89,789.80 |
| 5 | ₹6,00,000.00 | ₹8,24,863.67 | ₹2,24,863.67 | ₹6,16,386.12 |
| 6 | ₹7,20,000.00 | ₹10,57,570.31 | ₹3,37,570.31 | ₹7,45,545.33 |
| 7 | ₹8,40,000.00 | ₹13,19,789.97 | ₹4,79,789.97 | ₹8,77,735.71 |
| 8 | ₹9,60,000.00 | ₹16,15,265.65 | ₹6,55,265.65 | ₹10,13,437.65 |
| 9 | ₹10,80,000.00 | ₹19,48,215.05 | ₹8,68,215.05 | ₹11,53,145.50 |
| 10 | ₹12,00,000.00 | ₹23,23,390.76 | ₹11,23,390.76 | ₹12,97,369.27 |
Each file lists the source and the check date for every rate. The CSV comes as two files, the figures and their sources.
The link carries only these inputs. Saved inputs stay in this browser only, and are off until you turn them on.
Try one change
Each button changes exactly one input and says what that did to the headline figure. Reset undoes it.
Drawing it back out (SWP)
The same arithmetic in reverse: a corpus that grows each month while a fixed amount is taken out of it. Each month the balance is grown at the return you entered and the withdrawal is then subtracted.
How long the corpus lasts
- Starting corpus₹1,00,00,000.00
- One month's growth on it · withdraw more than this and the balance falls₹66,666.67
- Total withdrawn₹1,65,34,128.75
- Balance at the end · exhausted₹0.00
- It runs out after · 166 monthly withdrawals13.8 yrs
Each month, the balance grows at your chosen return. The withdrawal is then deducted. Markets give different returns each month. Their order changes the result. This calculation keeps the same return each month.
At these figures, the balance funds 166 withdrawals before running out. The last withdrawal may be smaller.
Each file lists the source and the check date for every rate. The CSV comes as two files, the figures and their sources.
What this calculator does and does not do
What this calculator does
- Projects a monthly, step-up or lump-sum investment at a rate of return you choose.
- Carries the maturity figure through to what is left after tax on the gain, and then into today's money.
- Shows how much of the corpus is your own contribution and how much is growth, year by year.
What it does not do
- Predict a return. The rate is your assumption, and no market delivers a constant one.
- Model fund charges, exit loads, or a scheme's own tax treatment beyond the rate you set.
- Account for missed, paused or irregular instalments.
Show the method and assumptions
The method
- Each monthly payment grows at a monthly rate until the plan ends.
- By default the monthly rate is the yearly return ÷ 12.
- By default each payment lands at the start of the month.
- Tax on the gain is taken off, then the total is shown in today's money.
What it assumes
- The return you type stays the same every year. It is not a forecast.
- Tax on the gain uses the published equity capital-gains rates.
- Today's money uses the inflation rate you type.
Sources, effective dates and exclusions
- Calculated on
- today
Tax rates start at the ones in force today. You can change them in the form.
- Rules in force from
- 23 Jul 2024
- Source published
- not listed
- Last reviewed
- 5 Oct 2026
Not included
- Live market prices. Every price here is one you type.
- Exit load and the fund's expense ratio.
What could change this?
- The return you assume. It is yours, not the calculator's. The whole projection is arithmetic on it.
- When the instalment is debited. Start-of-month gives every instalment one more month of growth than end-of-month. Two published tools can disagree on this alone.
- The tax assumptions. The rate, the annual exemption and the cess are applied as if the whole gain were realised in one year — a stated simplification.
- The inflation you assume. It restates the after-tax figure in today's money and is a policy target by default, not a forecast.
The number this page exists for
A maturity value is three things stacked on top of each other, and only the first is usually shown. There is the money you paid in, which was always yours. There is the growth on it at the rate you assumed. And there is the part of that growth that never reaches you. Tax is due on the gain, and a rupee ten years from now buys less than a rupee today.
The final figure takes the corpus after tax on its gain, then divides by the inflation factor over the tenure. The calculation includes growth, tax and inflation. Read the working to see what each layer changes.
The formula, and the factor most calculators drop
A SIP is an annuity paid at the START of each month, so every instalment earns that month's growth. That is what the trailing factor in the formula is:
i = r / 1200 monthly rate
m = years × 12 instalments
FV = P × ((1 + i)^m − 1) / i × (1 + i)
↑ start-of-monthLeave that last factor out and you have the ordinary-annuity formula, which is short by exactly one month's growth on the whole corpus. On the worked example below the gap is ₹23,003.87 — not a rounding artefact, and it grows with the balance, so it is largest at the end where the headline is read. The toggle in the input panel switches between the two so you can see the difference on your own numbers.
When the return is zero the formula would divide by zero, so that case has its own branch. Nothing compounds, and the corpus is simply the money paid in.
Step-up, and why there is no shortcut
A step-up SIP raises the instalment by a fixed percentage once a year. Two rates are then in play at once: the return compounding monthly, and the escalation applying annually. There is no closed form that collapses them. Rather than invent one, the tool adds up every instalment compounded over the months it is actually invested for:
amount in year y = P × (1 + s)^(y − 1) each instalment compounds for its remaining months, and the future values are summed
Set the step-up to 0% and that sum lands on the plain-SIP closed form to within floating-point noise. So each formula is an independent check on the other.
Worked example, with the arithmetic shown
₹10,000.00 a month for 10 years, at 12% a year, with 6% inflation. Every figure below is produced by the same engine the calculator above runs, so this example and the tool can never disagree.
i = 12 / 1200 = 0.01
m = 10 × 12 = 120 instalments
(1 + i)^m = 3.30039
FV = 10000 × ((3.30039 − 1) / 0.01) × 1.01
= ₹23,23,390.76 nominal maturity value
paid in = 10000 × 120 = ₹12,00,000.00
gain = ₹11,23,390.76
tax exempt gain ₹1,25,000.00
taxable gain ₹9,98,390.76
at 12.5% ₹1,24,798.85
+ 4% cess ₹4,991.95
total tax ₹1,29,790.80
after tax = ₹21,93,599.96
÷ (1 + 0.06)^10 = ÷ 1.7908
AFTER EVERYTHING = ₹12,24,894.76
against ₹12,00,000.00 paid in = ₹24,894.76 in today's moneyThe maturity figure is ₹23,23,390.76. What it is worth, after tax and in today's money, is ₹12,24,894.76 — 52.72% of it. On ₹12,00,000.00 paid in over 10 years, that is a real gain of ₹24,894.76. Both numbers are correct. They answer different questions, and only the second one is in units you can compare against what you earn and spend now.
What the tool does not model
A flat annual return applied to every year. No market delivers the same number twice, so this is a straight-line assumption and nothing more. Expense ratios, exit loads, transaction charges and dividend distributions are outside it. Tax is applied as though the whole corpus is redeemed in one financial year, using one year's exemption. Units bought within twelve months of that redemption would be short-term instead. Surcharge is left at zero because it depends on total income. Where a figure is a simplification, the result panel says so in the notes rather than leaving it implied.
Withdrawing: when a corpus does not run out
The SWP balance grows each month at the return entered, then the withdrawal is subtracted. If that withdrawal is smaller than the growth, the balance rises. Only a fixed time range is calculated. A balance still above zero then lasts beyond that range. The withdrawal equal to one month's growth marks the boundary between a rising and falling balance.
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Rates used, and when each was last checked
Each statutory figure names its source and the date verified. You can change these inputs in the tax panel. Match a rate to the year and rules for your calculation.
| Figure | Value | Effective from | Last checked | Source |
|---|---|---|---|---|
| Long-term capital gains rate on listed equity (s.112A (1961 Act), now s.198 (2025 Act)) Applies where securities transaction tax has been paid, and without indexation. Stated exclusive of surcharge and cess. | 12.5% | 23 July 2024 | 5 October 2026 | s.112A (1961 Act), now s.198 (2025 Act). The Finance (No. 2) Act 2024 introduced this rate. The figure is confirmed on AMFI's investor tax page, which states that gains on transfers on or after 23 July 2024 are taxable at 12.5% (10% before that date). |
| Annual exemption on long-term capital gains (s.112A (1961 Act), now s.198 (2025 Act)) This is one financial year's exemption on aggregate s.112A (1961 Act), now s.198 (2025 Act) gains, not a per-scheme or per-redemption allowance. | ₹1,25,000 | 23 July 2024 | 5 October 2026 | s.112A (1961 Act), now s.198 (2025 Act) exemption threshold. AMFI's investor tax page states that long-term capital gains EXCEEDING ₹1,25,000 are taxable at the rate above. |
| Health and Education Cess Charged on the tax, not on the gain. Surcharge is income-slab dependent and is NOT applied here — it is left at zero by default. | 4% | — | 5 October 2026 | AMFI's investor tax page: tax is subject to applicable surcharge and Health & Education Cess at the rate of 4% on the aggregate of base tax and surcharge. |
| Holding period that makes a listed-equity gain long-term Each SIP instalment buys units on its own date, so instalments from the last 12 months before a redemption are short-term. The notes under the result say how this calculator treats them. | 12 months | — | 5 October 2026 | AMFI's investor tax page: units held for a period of more than 12 months immediately preceding the date of transfer are long-term. |
The long-term capital gains rate of 12.5% on gains above ₹1,25,000 in a financial year, for transfers on or after 23 July 2024, comes from s.112A (1961 Act), now s.198 (2025 Act). The rates introduced by the Finance (No. 2) Act 2024 continue under the Income-tax Act, 2025. Health and Education Cess of 4% applies on the tax, not on the gain. A holding period of more than 12 months is what makes a listed-equity gain long-term.
Figures checked on 5 October 2026. These figures were checked against AMFI's investor knowledge centre tax page. AMFI is the mutual-fund industry body. Its summary states the rates, the 23 July 2024 changeover and the cess. The statute itself is the authority.
Rates that are announced periodically are deliberately not hardcoded here. PPF and the other small-savings rates are reset each quarter, so a fixed figure would be wrong within months. The return and inflation used on this page are your inputs. Their defaults are starting points for you to change. They are not published rates, and not this site's view of anything.
Everything is computed in your browser from the values you type. Nothing is transmitted anywhere, and the page makes no network request while it calculates.
Common mistakes
- Reading the nominal maturity value as what the money will buy. Inflation, tax on the gain and the return conversion convention each move the after-everything figure, which is the one to read.
- Assuming a step-up compounds the way the return does. The step-up raises the instalment once a year by the percentage you set. It is a change to what goes in, not to the rate.
- Treating the projected return as a promise. The schedule applies the rate you entered every month. A real fund's returns arrive unevenly, and the order they arrive in changes the outcome.
SIP calculator FAQ
What does a SIP calculator actually calculate?
Compound interest on a series of equal monthly payments. You supply the instalment, an annual return and a tenure. The tool converts the annual rate to a monthly one. It compounds every instalment for the months it stays invested, and adds them up. Nothing about a fund, a market or a future outcome is involved. It is arithmetic on the numbers you entered.
Why is the figure here lower than on other SIP calculators?
It usually is not, because the maturity value matches. What differs is that this page does not stop there. It also subtracts tax on the gain, and divides by the inflation you assume. The headline is what the corpus is worth in today's money after tax. Most calculators publish only the pre-tax, pre-inflation figure.
What is the (1 + i) at the end of the SIP formula?
It is the start-of-month factor. A SIP mandate is debited at the beginning of a month, so every instalment earns that month's growth. Formulas that leave it out treat instalments as arriving at the end of the month. That is one month's growth lower on the entire corpus. You can switch between the two on this page and compare the numbers.
How is the tax on the gain worked out here?
Only the gain is taxed, never the money paid in. The gain above the annual exemption is taxed at the rate shown in the tax panel. Cess is then added on the tax. Every one of those figures is an editable assumption, seeded from the rates listed at the foot of this page. Each carries the date it was last checked against its source.
Does the tool handle the fact that recent instalments are short-term?
No, and it says so in the result notes. Each instalment buys units on its own date. Instalments made within twelve months of a redemption would therefore be short-term rather than long-term. This page applies one rate to the whole gain, which is a simplification. Your own statement of capital gains is the authority.
Is a step-up SIP just a bigger SIP?
It is a SIP whose instalment rises by a fixed percentage once a year. There is no closed-form formula for it. The return compounds monthly while the escalation applies annually. The tool instead adds up every instalment, compounded over the months it is actually invested for. Both what you pay in and what it grows to rise.
What does the SWP section do?
An SWP balance grows each month at the return entered, then a fixed withdrawal is subtracted. When the withdrawal is smaller than that growth, the balance rises. The result then says it lasts beyond the period calculated. It does not estimate a later run-out date.
Can I rely on these numbers for tax filing?
No. Tax rates, exemptions and cess change. Holding periods are calculated for each acquired lot, and personal circumstances affect surcharge. Reconcile the result with your account statement, capital-gains statement and a qualified professional.
Where to go from here
This page projects one rate you assumed. That lesson is what an instalment actually does: it buys the amount divided by that day's NAV, so the average cost is money divided by units rather than the average of the prices — and the same instalments can finish either side of what was paid in.
Read the lesson Then thisCAGR & XIRR calculatorA SIP is a series of dated payments, so the rate that fits it is an XIRR, not a CAGR. This works out both, and says which one applies to which situation.
OpenLast checked on 5 October 2026.
Securities Transaction Tax (STT) is a statutory tax the Government of India levies on purchases and sales of securities.
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