NPS Calculator - HDFC

The NPS Calculator offered by HDFC is a user-friendly tool designed to compute the potential returns on investments made through the National Pension System (NPS) efficiently. The NPS Calculator HDFC allows you to make informed decisions by gaining insights into the estimated corpus and pension benefits.

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HDFC NPS Calculator

Your Age

18 Years 59 Years
Enter Your Age

Monthly Investment

₹500 ₹10L
Enter Investment Per Month

Expected Return on Investment

5% 15%
Expected Return on Investment

Percentage of Corpus Allocated for Pension

40% 100%
Enter Corpus Percentage

Expected Return from Pension

5% 15%
Enter Annuity Return
₹0
Your Monthly Pension
₹0
Your Monthly Pension
Your Pension Calculation
Your Pension Calculation
Total Investment
Returns Earned
Maturity Amount
Maturity Amount split (Lumpsum & Pension)
60%
Lumpsum Amount
At the age of 60 Yrs
40%
Pension Wealth
At the age of 60 Yrs

Let us know more about the NPS calculator, its benefits, and more offered by the HDFC Bank.

What is HDFC NPS?

The PFRDA (Pension Fund Regulatory and Development Authority) offers the National Pension Scheme (NPS) as an investment option that provides you with pension benefits for your post–retirement life. 

Any individual aged between 18 and 70 years can open an NPS account using a PAN Card and Aadhar Card.

Every citizen of India, including Non-Resident Indians (NRIs), salaried and non-salaried individuals, is eligible to invest in the National Pension Scheme. 

What is the HDFC NPS Calculator?

The HDFC NPS Calculator is an online tool offered by HDFC Bank to help you estimate your potential pension and corpus amount at retirement under the National Pension System (NPS). This can help you make deposits while keeping in mind your retirement goals and financial 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 using HDFC pension plan calculator are as follows:

  • Your Current Age

  • Frequency of Investment (monthly, half-yearly, or yearly)

  • Investment Amount

  • Choice of NPS option (Auto or Active choice)

Working of HDFC NPS Calculator

The HDFC NPS Calculator works based on the following formula
A = P (1 + r/n) ^ nt
Terms used in HDFC NPS Calculator
A
Final Value
P
Principal Sum
r
Rate of interest per annum
n
Total number of times the interest compounds
t
Tenure

This compound interest formula helps to compute the final value of your maturity amount in the HDFC NPS account.

Illustration of Calculation from NPS Calculator HDFC

Let us understand the use of the HDFC NPS Calculator from the example mentioned below.

If you invest in an HDFC NPS account with the following details-

  • Your Age of Investment = 30 years

  • Monthly investment = Rs. 10,000 

  • Expected Rate of Return = 10% p.a.

Your account will mature at the age of 60 years. 

  • Your investment tenure = 30 years

  • Yearly Investment = Rs. 10,000 × 12 × 30 years = Rs. 36 lakhs

The following will be the details of National Pension Calculator:

  • A = P (1 + r/n) ^ nt

  • A = 36,00,000 (1 + 0.10) ^ 30

  • Maturity Amount, A = Rs. 2,26,04,879

  • Interest Earned = Rs. 1.90 crores

  • Minimum Annuity Investment = Rs. 90.41 lakhs

People Also Read: Best Pension Plan In India

Benefits of HDFC NPS Calculator

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 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 centre team and email ID, especially for National Pension Scheme-related queries

Eligibility Criteria for NPS Calculator - HDFC 

The following are the eligibility criteria for opening a NPS account in HDFC bank and get benefits of the HDFC pension plan calculator:

  • Resident Citizens of India 

  • Non-Resident Indian (NRI) 

  • Minimum age criteria is 18 years

  • The maximum age criteria is 70 years

  • Mandatory KYC compliance  

  • Up to 1 NPS account per individual

Benefits of HDFC NPS Account

NPS is a beneficial investment plan in the long term, and hence, every Indian citizen can invest in this government-backed scheme to safeguard their financial future.

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

  1. Liquidity

    Liquidity can never be an issue under the National Pension Scheme as you contribute systematically over a period. A unique Permanent Retirement Account Number (PRAN) is provided for a specific NPS account. For availing of the liquidity benefit under NPS, you need to have any of the below-mentioned accounts: 

    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 is required for opening this account

      • Accumulates funds for retirement with tax benefits.

    2. Tier-II Account

      • This account works as a voluntary account

      • Liquidity is provided through withdrawals and investments

      • A minimum deposit of 250 is required for opening this account

      • Tier-I account needs to be active to open a Tier-II account 

      • Offers investment options and accessibility of funds without a lock-in period

  2. Flexibility

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

    1. Auto Choice

      • A default option if you are confused between market-linked investment choices

      • Allocation of assets is directly related to your age

      • As it is auto choice, the proportion cannot be decided by you

    2. Active Choice

      • Assets can be allocated between

        • Equity

        • Corporate Bonds

        • Government Securities

      • Allocation can be made in different investment funds as per your choice

      • A maximum of 75% of funds can be allocated Under the equity choice 

      • You can switch between investment options as and when required

  3. Tax Benefits

    All the tax benefits mentioned below are available only under the Old Tax Regime in FY 2023-24 (AY 2024-25). However, the tax benefit under Section 80CCD(2) is also available with the New Tax Regime.

    Income Tax Act, 1961 Tax Benefits
    u/S 80CCD (1)
    • Tax deduction of up to 10% of your salary (basic + DA) towards your NPS contributions under this section.
    • This deduction is available within the overall limit of ₹1.5 lakhs under Section 80CCE
    u/S 80CCD (1B)
    • Additional deduction of ₹50,000 on Tier-I investment
    • The deduction is available over and above the limit of ₹1.5 lakhs under Section 80CCE
    u/S 80CCD (2) Employers to claim a tax deduction on their contributions made towards their employees' NPS accounts, up to 10% of the employee's salary (basic + DA)
    u/ Section 10(12B) Up to 25% of the amount withdrawn from the NPS Tier I account is exempt from tax under certain conditions.
    Maturity Amount
    • Up to 40% of the accumulated corpus can be withdrawn tax-free
    • The remaining 60% must be used to purchase an annuity

    “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% must be used for the annuity plan

    If the amount is withdrawn at 60 years or later

    • 60% of the total corpus shall be received

    • 40% shall be used to convert into an annuity plan

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

In The End!

The HDFC NPS calculator serves as a valuable tool for you to plan your retirement investment strategy. With its user-friendly interface and accurate calculations, it empowers you to make informed decisions regarding your National Pension System contributions. Utilizing this tool can contribute to a more secure and well-planned financial future for you.

FAQ's

  • Is NPS better than PPF?

    The best option depends on your individual circumstances and financial goals. If you are looking for higher potential returns and are comfortable with market-related risks, NPS might be a better option. If you prioritize security and guaranteed returns and need flexibility in accessing your funds, PPF might be a better choice.
  • What is the amount of NPS ₹5000 per month for 20 years?

    Let us suppose you invest ₹5,000 per month in an HDFC NPS Account at the age of 40 years for a tenure of 20 years. If your expected rate of return is 10% p.a., then your total investment in 20 years will be ₹12 lakhs, and the interest earned will be Rs. 25.96 lakhs. The maturity amount of your NPS investment will be Rs. 37.96 lakhs.
  • How much is the pension in NPS?

    The pension amount in NPS depends heavily on various factors like:
    • Investment age

    • Investment amount and duration

    • Investment choices across various asset allocation options (E, C, G)

    • Annuity purchase

    • Market performance

    For a more accurate estimate of your NPS pension, you can use the online NPS calculator HDFC.

  • Can I invest 20000 in NPS?

    Yes, you can definitely invest ₹20,000 in NPS. In fact, the minimum monthly contribution allowed in an NPS Tier-I account is ₹500, making it accessible to a wide range of investors.

*All savings are provided by the insurer as per the IRDAI approved insurance plan.
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

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