Disclaimer: In our calculator, we have assumed that the SIP instalments start
from 1st day of the month and the final value of the investment at the end of SIP
tenure is the end of day value on the day of last SIP instalment (including the
instalment received on that day). Based on the annualised rate of return chosen
by you, “effective monthly rate of return” is calculated by applying appropriate
discounting rate considering the effect of monthly compounding of returns. For example,
if the annual rate of return chosen by you is 18%, the effective monthly rate of
return used for the calculation will be 1.39%, and not 1.50%.