The Government of India has made it super easy for us with the National Pension Scheme Calculator (NPS) 2024. This online calculator helps Indian citizens who have put money into the national pension scheme. Now, you can figure out your total amount without even going to a government office!
Using the National Pension Scheme calculator is simple. All you need to do is enter your monthly investment, the expected interest, and your age. Then, you can see how much money you’ll have at the end! It’s that easy!
Remember, all permanent residents of India can use the National Pension Scheme and get its benefits. If you’re curious about your maturity amount, total investment, or interest earned, just head to the official website.
What is the National Pension Scheme?
The National Pension Scheme is a cool plan started by the Government of India for everyone who wants a safe way to save money for retirement. This scheme helps you build a nice amount of money for your future after you stop working. The best part is that the interest rate is higher than what banks give for savings or FD accounts!
Under the National Pension Scheme, you can put money in every month, and when you retire, you’ll get a big amount back. Right now, the interest rate for this scheme is between 9% to 12%, which is really good!
If you want to join the National Pension Scheme, you need to be between 18 to 70 years old. It’s perfect for young folks who want to start saving early and for older people who want a secure future.
National Pension Scheme Calculator Objective
The National Pension Scheme Calculator helps you know how much money you will have when you retire. This cool online tool lets you find out your maturity amount quickly and easily. With just a click, you can save time and get the details you need.
When you check your maturity amount based on your monthly investment, you can plan your retirement better. It’s super helpful! You will know how to save for the future without any hassle.
This calculator was made by skilled developers, and they keep it updated all the time. So, you can trust that the calculator will give you the right answers without any mistakes.
Key Features of National Pension Scheme Calculator
| Key Highlights | Details |
| Name of the Scheme | National Pension Scheme Calculator |
| Launched By | Government of India |
| Launch Date | 2004 |
| Announced By | Prime Minister of India |
| Purpose | Provide investment opportunity |
| Beneficiaries | Citizens of India |
| Target Beneficiaries | Citizens who want to invest their money |
| Advantage | Get some money after retirement |
| Eligibility Criteria | Permanent resident of India |
| Required Documents | Aadhaar Card, Bank account, |
| Application Process | Online |
| Official Website | https://npstrust.org.in/ |
| Expected Benefits | High interest rate |
| Contact Number | 1800 2100 080 |
Interest Rate
- According to the reports the interest rate under the National Pension Scheme fluctuates between 9% to 12%.
Minimum and Maximum Amount
- The minimum on to deposit under the National Pension Scheme is INR 1000.
- There is no maximum amount limit set up by the government of India under the National Pension Scheme.
Also Read: NPS Vatsalya Scheme
Silent Features of the National Pension Scheme
- Secure retirement: With the help of this scheme the citizens of India can invest their money to have a safe and secure retirement life.
- High interest: The interest rate under the scheme is comparatively higher than any other savings or FD account.
- Low risk: Since the scheme is backed by the government of India the citizens did not have to bear any risk to invest their money and earn high interest.
- Flexibility: Because the minimum amount to invest under the scheme is INR 1000 any financially unstable citizen can also avail the benefits of the scheme.
NPS Calculator
Investment per month (₹):
Expected return (p.a.):
%
Your age:
Total investment: ₹0
Interest earned: ₹0
Maturity amount: ₹0
Min. annuity investment: ₹0
National Pension Scheme Formula
The formula to calculate the maturity amount under the National Pension Scheme is: Future Value (FV) = P [ (1 + r/n)^(nt) – 1 ] / (r/n)
- Where:
- – P is the regular contribution.
- – r is the annual rate of return.
- – n is the number of compounding periods per year (typically monthly).
- – t is the number of years until retirement.
Maturity and Withdrawal
- The account holder under the national pension scheme can withdraw their money after reaching the age of 60 years.
- The account holder can also withdraw their money before the age of 60 years only if they have completed 10 years under the scheme. In case the total accumulated corpus is less than Rs. 2.5 Lac, the subscriber may opt for 100% lump sum withdrawal
- In case of the death of the account holder, the 100% lump sump money will be given to the legal nominee or the spouse of the account holder.
Premature Closure
- To make the premature closure of the account the account holder must have been registered under the scheme for at least 5 years
- The corpus amount of INR 2.5 lakh or less can be withdrawn by the account holder in a lump sum.
- If the Corpus amount is over INR 2.5 lakh then at least 80% of the amount must be used to purchase an annuity and the remaining can be withdrawn as a lump sum.
- All the Government employees were registered under the NPS scheme can withdraw their money anytime.
Features of National Pension Scheme Calculator
- To use the Post Office Monthly Income Scheme Calculator the citizens must need to enter their investment, interest rate, and age.
- By entering the above details the citizens can check their maturity amount, interest earned, total investment, and minimum annuity investment.
- The formula that is followed by the National Pension Scheme calculator to calculate maturity amount is (FV) = P [ (1 + r/n)^(nt) – 1 ] / (r/n).
- There are multiple websites available on the Internet that provide the National Pension Scheme calculator.
Benefits of National Pension Scheme Calculator
- With the help of the NPS calculator, citizens can instantly check their amount without wasting any time and effort.
- The calculators will provide the citizens with accurate results without any chance of any error in the calculation.
- The estimation from the calculator will give a clear idea to all the citizens about how much they will receive after investing a certain amount of money.
- By checking the returns the citizens can plan their retirement according to the return they will receive.
How to Use National Pension Scheme Calculator
STEP 1: All citizens who want to use the National Pension Scheme Calculator are requested to visit the official website by clicking on the link here.
STEP 2: Once the citizens reach the homepage of the official website they must enter their investment, interest rate, and age.
STEP 3: After entering the details the citizens can easily check their maturity amount, interest earned, total investment, and minimum annuity investment.
Contact Details
- Phone No:- 1800 2100 080
FAQs
What is the interest rate under the National Pension Scheme?
The interest rate under the National Pension Scheme fluctuates between 9% to 12%.
What is the formula to calculate the maturity amount under the National Pension Scheme?
The formula to calculate the maturity amount under the National Pension Scheme is: (FV) = P [ (1 + r/n)^(nt) – 1 ] / (r/n).
Who is eligible to avail the benefits of the National Pension Scheme?
All the citizens war between the age group of 18 to 70 years are eligible to avail the benefit of the National Pension Scheme.