|Min. annuity investment||₹|
The National Pension System or NPS is a measure to introduce a degree of financial stability for Indian citizens after they have retired. It was previously known as the National Pension Scheme. Anyone over the age of 60 is eligible to use the amount gathered in the pension corpus. You will need an NPS calculator to determine how much the total accumulation amounts to.
Any resident of the country who is between 18 and 60 years of age is eligible to build up a pension corpus. It is an investment and an asset after retirement. Since most people in India have private jobs with little security, they need a National Pension Scheme calculator. Pension schemes in the country are not market-linked instruments and earn sound returns.
Here are the ways the NPS pension calculator will assist you.
NPS, like all pension schemes around the world, uses compounding interest to calculate returns.
The formula that the National Pension Scheme calculator India uses is:
A = P (1 + r/n) ^ nt
In the equation, the amount is A. The other variables are the following.
|R/r||Rate of interest per annum|
|N/n||Number of times interest compounds|
An example of how pension aggregates is essential here.
If you are 34 years old and your monthly contribution is Rs 3000, you will need to add to the pension account for 26 more years. Assuming that the rate of interest or ROI is expected at 10% every year, the following are the details the National Pension Plan calculator offers.
Total Principal invested= Rs 9.36 Lakh
Sum expected on Maturity = 44.35 Lakh
Follow the simple steps mentioned below to use the NPS calculator
Step 1: Enter the amount you want to invest every month towards your retirement corpus in the pension scheme
Step 2: Enter your present age
Step 3: Use the slider to select the expected rate of return
The results will be displayed within seconds.
These are the following:
Likewise, Groww provides you with a wide range of other financial tools besides the NPS calculator. You will find them at the bottom of the page.
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