Dec 12, 2009

Amazing Online SIP Calculators

Photo by sea turtle

UPDATE: 24/01/2010

Sorry, I’m deleting this post.

Of late, I was going off-track and trying to be overly critical of other people’s work rather than minding my own business. Many thanks to Arjun, for making me realize my folly.

Anyway, very soon I’ll publish an online SIP calculator based on excel.


UPDATE-09/04/2010: Published today...click here.


Also see:

1. Home Loan Calculator
2. Tax Calculator
3. PPF Calculator

10 comments:

  1. You are doing a great service to the investor community. Please keep it up.--KARAVI

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  4. My name is Harsh Roongta and I am the CEO of Apnapaisa.com. Many thanks for taking time out to review so many SIP Calculators across so many sites including Apnapaisa.com .

    In fact went through the 3 answers and all of them are right. you may off course ask how is that possible. It's because of the combination of assumption on what the interest rate of 12%p.a. means and when the monthly installemnt is payable (whether at the begining of the month or at the end of the month)

    1) The 1st answer of 12244.44 (which is also apnapaisa's answer incidentally)assumes that 12% is 12% compounded monthly (meaning 1% per month)and the SIP is paid out at the end of the month.

    2)The second answer of 12123.31 assumes that 12% is 12% compounded monthly (meaning 1% per month) and that the SIP is paid out at the begining of the month.
    3) The third answer of 12446.90 assumes that 12% is compounded annually (or 0.9489% per month) and that the SIP is paid out at the end of the month.

    Incidentally the Axis Bank calculator referred by you is not really wrong since the first field to be filled in is actually a text field to fill in the purpose- not the amount- such as Planning for child's education, planning for pension, etc. The explanation is given at the top of the calculator but i agree that on first impression it does appear as if all the inputs are asked for.

    Your analysis is good and clearly shows the need to display assumptions clearly. In some of our earlier calcualtors we used to ask consumers to fill in these assumptions but the feedback was that it ended up confusing customers even more without in any case adding much to their usability. After all what the calculator gives you is a rough figure you need to save every month assuming a certain return (which is not guaranteed in most cases) and tenure and financial goal. So we decide to make these assumptions which i believe are very reasonable and i am sure that the other companies named by you have similiarly made their own assumptions.

    So to summarise all the answers are right except that the assumptions made are a little different in each case and none of these can be termed as wrong according to me.

    Would welcome your comments and suggestions on this (ceo@apnapaisa.com).

    Incidentally am very curious to know what are the correct assumptions to be made as per you - because ultimately everything else is just a calculation..

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  8. My simple submission is :
    one should not be unfair in comments when commenting on any other person's work . If knowledge is to be shared , it becomes all the more interesting if it is sharedin a positive good hearted environment , rather than in oneupmanship and in i know all environment. doing great service is one thing and being rude is another. i was veru impresssed at first with the talent and knowledge..but the good deeds are being overshadowed by these rude remarks . pl. refrain if possible and if this comment is taken in the right ernest honest spirit

    Arjun

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  9. Arjun: Thanks for your honest feedback and reminding me. I think I’ve become a bit arrogant lately. But now I promise that I'll try not to be harsh while judging others. Still if you notice anything wrong, please do remind me.

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