RBL Bank NPS Calculator

What is the RBL Bank NPS Calculator?

RBL Bank NPS Calculator is a tool that is accessible online and helps in estimating the retirement benefits under the National Pension Scheme, depending on the amount of the contribution, the duration of investment and the expected returns. It estimates the amount of retirement funds and the monthly pension. According to the NPS rules, government subscribers may take as much as 60% of the accumulated corpus in the form of a lump sum and invest the rest 40% in an annuity. Whereas non-government subscribers may take up to 80% as a lump sum, and only 20% must be invested in an annuity to receive a pension.

How Does the RBL Bank NPS Calculator Work?

The RBL Bank NPS Calculator works on the principle of compound growth to estimate long-term retirement savings. It determines the growth of regular contributions over time with an average rate of return and the investment time period.

The calculator applies the standard compound interest formula:

• Investment Duration: 24 years
• Total Contribution: ₹7,200 × 12 × 24 = ₹20,73,600

According to long-term compounding, the RBL Bank NPS Calculator gives the estimate of the retirement corpus as ₹68 lakh to ₹74 lakh.

On retirement, a lump sum of up to 60% of the corpus, approximately ₹41 - ₹44 lakh, can be withdrawn. The rest 40%, which is about ₹27 - ₹30 lakh, is put into an annuity.

This annuity can offer a monthly pension of between ₹13,000 and ₹16,000, depending on the rates of annuities available at the time, as well as the option chosen.

NPS Calculator

Your Age

Years

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

View Plans

₹0

Your Monthly Pension

View Plans 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

View Plans

How to Use the RBL Bank NPS Calculator?

In order to estimate your retirement corpus and pension benefits using the RBL Bank NPS Calculator, follow these steps:

• Step 1: Enter your age to define the initial point of investment.
• Step 2: Choose the age of retirement to calculate the period of investment.
• Step 3: Fill in the amount of NPS contribution you would like to make every month or annually.
• Step 4: Select an assumed rate of return in accordance with long-term patterns of NPS performance.
• Step 5: Choose the percentage of annuity to use in retirement income.
• Step 6: Evaluate the projected retirement corpus, lump-sum payout, annuity value and monthly projected pension.

Benefits of the RBL Bank NPS Calculator

The National Pension Scheme calculator helps investors to:

• Simple to Navigate: The calculator uses basic information (age, amount invested, and anticipated returns) and can be used even by a novice NPS investor.
• Instant Estimates: It will give the instant estimations of the pension corpus and expected monthly pension without any manual calculations.
• Flexible Inputs: The user is able to adjust the contribution levels, the retirement age and the return assumptions so that they can compute the different options to retire.
• Better Financial Planning: It allows investors to project the future savings and pension with regard to the rate at which the contribution is rising.
• Free to Use: The tool is free to use online, and hence it is easy to use in the process of planning retirement.

Tax Implications on Your NPS Returns

The National Pension Scheme provides tax benefits under various sections of the Income Tax Act:

Key Takeaways

The RBL Bank NPS Calculator assists depositors in estimating their retirement corpus and monthly pension based on age, contribution amount, and period of investment. It shows the major NPS characteristics, including partial withdrawal after three years, flexibility in Tier II withdrawals, and applicable annuity allocation requirements upon retirement. The calculator provides efficient and organised retirement planning by comparing the amount of contribution, period of investment, and the growth of your money.