IDBI Pension Plan Calculator

Why Should You Use the IDBI Pension Plan Calculator?

The company has created the IDBI Pension Plan Calculator for the ease and comfort of the customer. It saves both the time and effort of the customer. It provides accurate answers within minutes, which the customer would otherwise waste in making complicated calculations.

This digital tool is simple to use, and anyone can operate it. It also cuts out the time required to visit the branch or enquire an agent about the scheme details. Further, the calculator helps the customer make an informed choice.

How To Use IDBI Pension Plan Calculator?

Using the IDBI Pension Plan Calculator is a simple process that requires only a few details for calculation. The customer can follow the below-mentioned steps to use the calculator:

• Visit IDBI’s home page on the official website
• Search for the Pension Calculator under ‘Tools and Calculators’
• Enter the details of the customer like name, age, and contact information
• Enter the amount to be invested in the pension scheme
• Click on the ‘Calculate’ tab to determine all the details

Advantages of IDBI Pension Plan Calculator

As stated above, there are several benefits the IDBI pension plan calculator offers:

• It is easily accessible. The calculator can be used by logging onto the website of the company.
• It is hassle-free and requires only a few simple steps to complete the process. Once the data is entered into the calculator, the results can be expected within minutes.
• It is free of error. This is a digital device, and hence the chance of any error is minimal.
• It is regularly updated so the information that it provides can be trusted. Any new rules to schemes are updated onto the algorithm of the calculator regularly.
• It can be operated from anywhere and at any time of the day instead of consorting to office hours as is the case when someone is visiting a branch office.

Information Required To Use IDBI Pension Plan Calculator

There is some information that is required to operate the calculator. The information required is as follows:

• Age of the customer: This is noted so that the company may have an idea of the time frame available before pension payments to the customer are to begin.
• Investment: This is the sum of money that the customer is willing to invest in the scheme every month. This is required to estimate the corpus generation.
• Term of the scheme: This denotes the amount of time that the scheme will be active for.
• Rate of return: This is the rate at which returns are expected on the investment that has been made by the customer.

Benefits of buying IDBI Pension Plans

Pension plans have become the wish and dream of every middle-aged professional. This is owing to the increased awareness regarding pension and its benefits. 

Listed below are some of the advantages that a customer can gain from investing early in the IDBI Pension Plan:

• It secures the future of the customer and provides him with an income in the later years of his life.
• It is a good way of investing as there is almost no risk involved in investing in pension schemes.
• It can be a source of the customer exploring and enjoying passions in the later years of his life that were neglected earlier.
• It leads to the generation of a large corpus that the customer can then use to fulfil his life goals.
• The pensions can be withdrawn as per the wish of the customer, thus giving him more control over his finances.

IDBI Pension Plan Premium Rates

The following factors directly control the premium rates of the pension plan:

• Age: It is always advisable to invest in pension plans early in life as that gives the customer more time to save and also allows him to avail better premium rates.
• Gender: Women are mostly afforded better premium rates than men.
• Lifestyle: Those who follow healthier lifestyles are rewarded with better premium rates. Non-smokers and non-tobacco users are eligible to avail of lower premiums.
• Tenure: The longer the term of the plan, the lower will be the applicable premium rate.

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