Mutual Fund: Want to earn 10 crore in 10 years? Invest in THESE SIP schemes, based on this plan

The modern investor may put their money to work in a variety of ways, from government-backed programmes to the stock market to mutual funds. Investors in the stock market and mutual funds obtain greater returns than government programmes and bank FDs. Long-term investments include some degree of risk, but those who are willing to ride it out have the potential to reap substantial rewards.

Mutual funds might be useful if you require Rs 10 crore in ten years. SIP is widely recognised by industry professionals to be a viable option for systematic investment of such sums. Let's find out how much you should put into it every month and which kind of corpus you should choose so that in the next ten years you will have a massive quantity of money equal to 10 crores ready with you.

According to Mint, Fintu founder and CA Manish P. Hinger advised that investors under the age of 30 should participate in equities mutual funds with a moderate amount of risk. He estimated that a monthly SIP of Rs. 1.4 lakh would be required over a 10-year period, assuming a return of 12% on an Equity Mid Cap Fund. This will result in a deposit of around Rs.3.2 crore.

In addition, Rs 4.4 crore would be paid into the account if Rs 1.6 lakh were invested in the Equity Small Cap Fund every month, assuming a return of 15% per year. Approximately 10 crore rupees is what you'll have at your disposal.

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Some of the finest big cap funds include the Quant Focused Fund, the ICICI Prudential Bluechip Fund, the HDFC Index Fund, the S&P BSE Sensex Plan, and the Canara Robeco Bluechip Equity Fund, according to industry experts. Among the top-performing mid-cap funds, Axis Mid Cap Fund and Kotak Emerging Equity Fund stand out.