HDFC NPS Calculator

National Pension Scheme or National Pension System (NPS) is a scheme brought into existence by the Government of India. NPS offers retirement benefits to all the sectors of society, be it unorganized or organized. It is regulated and administered by the Pension Fund Regulatory and Development Authority(PFRDA) and is a completely reliable government-backed plan.

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NPS Calculator

Your Age

18 Years 59 Years
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Investment Per Month

₹500 ₹10L
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Percentage of Corpus to be allocated for Purchase of Annuity

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Expected returns from the Annuity

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Lumpsum Amount
At age of 60 Yrs
Yearly Pension
For life time

Let us know more about the National Pension System focusing on the NPS calculator, benefits, and more offered by the HDFC Bank.

What is HDFC NPS?

The PFRDA (Pension Fund Regulatory and Development Authority) has come up with a scheme that offers benefits to all Indian residents once they cross their retirement age. This scheme is known as National Pension Scheme. Any individual aged between 18 years and 60 years can open the National Pension Scheme Account. An eNPS account can also be opened if you have Pan Card or Aadhar Card.

Earlier the scheme was available only for individuals in the public sector but since May 2009, every citizen of India is eligible for investing in the National Pension Scheme. With little investment, an individual can secure the financial future of themselves and their family making the scheme highly beneficial.

What is HDFC NPS Calculator?

All the banks offering National Pension Scheme provide a calculator that helps in the calculation of the lump sum amount that an individual can expect at the age of their retirement as per their contribution made to date. The main advantage of using an HDFC NPS calculator is that an individual will always be aware of the amount they will receive at the end which can help them make deposits keeping in mind their retirement goals and needs.

An easy to use and hassle-free tool, HDFC National Pension Scheme Calculator, calculates the lump sum amount to be received just by entering a few basic details related to the scheme. Some of the important details required while calculation of HDFC NPS are as follows:

  • Current Age of the HDFC National Pension Scheme holder
  • Investment type to be made (that is, monthly or yearly)
  • Amount to be invested
  • Choice of NPS option (Auto or Active choice)

Why HDFC for NPS?

HDFC is one of the leading private sector banks that offer an individual to buy the National Pension Scheme for both retail and corporate sectors. Here are some of the advantages offered by HDFC that make them above other NPS providers.

  • HDFC offers a seamless registration process
  • Processes all the financial and non-financial transactions effortlessly
  • HDFC has a dedicated team that looks after their NPS clients in all the major cities
  • Have a call center team and email ID especially for National Pension Scheme related queries

Eligibility Criteria for HDFC National Pension Scheme

The following is the eligibility criteria for this government-backed scheme:

  • Citizens of India residing in India can open an NPS account
  • The minimum age criteria for opening a National Pension Scheme account is 18 years
  • The maximum age criteria for opening a National Pension Scheme account is 65 years
  • KYC Compliance is compulsory before applying for an NPS account 
  • The applicant is not allowed to own more than 1 NPS account

Benefits of HDFC National Pension Scheme Account

NPS is very fruitful in the long run and hence every Indian citizen can invest in this full-proof government-backed scheme for safeguarding their financial future.

Here are some of the top benefits offered under the HDFC National Pension Scheme:

  1. Liquidity

    Liquidity can never be an issue under the National Pension Scheme as contributors contribute systematically. For availing of the liquidity benefit, all the investor needs to have any of the below-mentioned accounts. Also, with the following account, a unique Permanent Retirement Account Number (PRAN) is compulsory while attaining the liquidity benefits

    1. Tier-I Account

      • This account works as a pension account
      • Withdrawals can be made but are subject to specific restrictions
      • A minimum deposit of 500 rupees is required for opening this account
    2. Tier-II Account

      • This account works as a voluntary account
      • Liquidity is provided through withdrawals and investments
      • A minimum deposit of 250 rupees is required for opening this account
      • To open a Tier-II account Tier-I account needs to be active
  2. Flexibility

    NPS is very flexible in terms of choices. To avail flexibility benefit, NPS offers the following choices under the scheme:

    1. Auto Choice

      • A default option if investors are confused between choices
      • Allocation of assets is directly related to the age of the investor
      • As it is auto choice, the proportion cannot be decided by the investor
    2. Active Choice

      • Assets can be allocated between
        • Equity
        • Corporate Bonds
        • Government Securities
      • Allocation can be made in different classes as per the investors choice
      • Under the equity choice, a maximum of 75% can be allocated
      • Investors can switch between investment options and fund managers as and when required
  3. Tax Benefit

    Income Tax Act 1961

    Tax Benefits

    U/S 80CCD (1)

    1.5 lakh of tax is deductible within the total ceiling Under Tier-I investment

    U/S 80CCD 1(B)

    Up to Rs.50,000 is allowed as deductions towards Tier-I investment

    U/S 80CCD (2)

    For Tier-I investment, deductions up to 14% for central government and 10% for the rest are eligible

    Tax benefit is subject to changes in tax laws. Standard T&C apply.”

  4. Withdrawal Benefit

    If the amount is withdrawn before 60 years of age

    • 20% of the total corpus shall be received
    • 80% shall be annuitized compulsorily

    If the amount is withdrawn at 60 years or later

    • 60% of the total corpus shall be received
    • 40% shall be annuitized compulsorily

    Payments under the National Pension Scheme can only be made in Indian Rupees

  5. Deposit Benefit

    Deposit benefits under the National Pension Scheme are:

    • There is no fixed time to make financial contributions. One can contribute to this scheme at any time of the year.
    • The amount to be deposited is not fixed and can vary as per the contribution will of the investor.

In The End!

National Pension Scheme is a great scheme that offers fixed income after retirement. The main aim behind NPS is to create a financial corpus for individuals after their retirement so that they can lead a happy and financially settled life.

HDFC NPS Calculator helps in knowing the contributions made under the scheme to date and planning your new investment accordingly so that you have a corpus as per your future needs. It is important to keep all the future aspects in mind before making any kind of investment.

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