What is NPS(National Pension Scheme)?
NPS previously known as National Pension Scheme is an initiative by the central government to give financial stability to the employees of private, public, and organized sectors. NPS scheme has enough potential value for the private sector’s employees who want a regular pension in the future after their retirement. This scheme was launched in January 2004 only for the government employees but later in 2009, it was allowed to all the citizens of India.
What is NPS Calculator?
NPS calculator is an online tool that enables an investor to get an accurate estimation of returns on the invested amount, gained wealth, and maturity amount of the whole investment. This amount is based on the investment made through the NPS account. This calculator assists individuals to evaluate the estimated amount that needs to be invested to achieve financial goals.
How to use the myitronline NPS calculator?
Follow the instructions mentioned below to use the NPS calculator.
- Put the value of the amount you wish to invest periodically towards your retirement corpus in the NPS scheme.
- Use the slider to fill out the years of your age.
- In the third column, You need to put the expected rate of return.
Myitronline calculator will show you accurate insights into your maturity amount along with the annuity.
Benefits of using an NPS calculator
NPS or National Pension Scheme calculator is an online utility tool that helps you to know how much your pension will be after a specified period of time. NPS calculator eradicates the time of manual calculation and shows you the accurate result in seconds. NPS calculator helps you to generate error-free results without moving out of your comfort zone. It is available easily and can be used anytime. NPS calculator saves your precious time and energy with its simple and easy-to-use interface.
Who can use the NPS calculator?
The NPS calculator can be utilized by any individual but specifically, it is for those eligible investors who are into NPS. An individual who wants to invest in NPS and wants to have an estimation of gained wealth on a given investment amount can use this calculator. All those citizens who are between the ages of 18 to 60 are eligible to invest in NPS (National pension scheme). All individuals must be aware of the guidelines o KYC and valid documents of identity proof, address proof bank details, etc. NPS is based on the concept of compounding therefore, an investor should invest for as long as he can, in order to get the more accumulated amount and the retirement benefit.