SBI Atal Pension Yojana Calculator

Atal Pension Yojana, an initiative launched by the Government of India in the 2015 Union Budget is a National Pension Scheme primarily targeting the employers in the unorganized sectors of the country. In addition, Atal Pension Yojana also covers the employers in the private sectors who lack pension benefits in their organization. Here is a detailed view of the Atal Pension Yojana focusing on the APY Calculator, how the calculator works, its features, benefits, etc. offered by the State Bank of India.

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Invest ₹6,000/month & Get Tax Free Monthly Pension of ₹60,000

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Disclaimer: ##Rs 60,000 are the monthly pension amounts at the assumed rate of return of 8% p.a. and 4% p.a. for unit linked insurance plans. This is an illustrative example and the returns are not guaranteed & dependent on the policy term and premium term availed along with the other variable factors. The market linked return of 60K per month is for an 18 year old investing 6k per month for 20 years in a whole life policy having policy term 82 years in which Systematic partial withdrawals start at the age of 65 years at 5% rate of withdrawal per year. The investment risk in the policy is borne by the policyholder. All Plans listed here are of insurance companies’ funds. *Tax benefits and savings are subject to changes in tax laws. All Plans listed here are of insurance companies’ funds. Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

Pension Calculator

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For a monthly pension of ₹77,300
you need to invest

₹14,300/month

Calculated as per past performance of 15%

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What is Atal Pension Yojana?

Atal Pension Yojana, as the name suggests, is a National Pension Scheme specially launched keeping in mind individuals working in the unorganized sectors of India. The pension amount is offered to the scheme holders after the age of 60 years and the denominations can be either in Rs. 1,000, Rs. 2,000, Rs. 3,000, Rs. 4,000, or Rs. 5,000 completely depending upon the contributions made throughout the scheme tenure. Managed under the PFRDA (Pension Fund Regulatory and Development Authority), the minimum and maximum age of joining the APY scheme is 18 years and 40 years respectively. After the death of the scheme holder during the pension payment period:

The spouse receives the pension amount.
Nominee receives the accrued corpus amount after the death of a spouse.

State Bank of India like many other authorized banks offer individuals to open the Atal Pension Yojana account and make monthly contributions. The account holder starts to receive the pension amount after the completion of the retirement age, that is 60 as per the Government rules.

What is SBI Atal Pension Yojana Calculator?

To easily calculate the real interest an account holder is liable to receive after the age of retirement, a miraculous online tool called the SBI Atal Pension Yojana Calculator is used. The APY Calculator can help in:

The computation of pension amount receivable at the end of the retirement age.
Understanding the age at which an individual should start investing in the scheme to be able to achieve the desired corpus.
Knowing the amount of interest an individual should have earned on the pension.
Quick and accurate calculations when compared to manual formula.
Knowing the future receivable amount in advance can help in planning the financial goals accordingly.

Check out our other calculators: SIP Calculator

How Does the SBI Atal Pension Yojana Calculator Work?

The following formula is used for the computation of the Atal Pension Yojana:

Atal Pension Yojana = (1 + r/n) n – 1

Here,

r = the Rate of Interest
n = the number of times interest is compounded in a year

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SBI Atal Pension Yojana Calculation Tables

The pension amount in the SBI Atal Pension Yojana completely depends on 2 main factors:

Age of the investor when they started the scheme.
Pension amount they are willing to contribute monthly.

The following table will help you understand the monthly contributions one has to make at different age levels to attain the desired pension amount after the age of 60.

Entry Age		Fixed Pension Rs. 1,000	Fixed Pension Rs. 2,000	Fixed Pension Rs. 3,000	Fixed Pension Rs. 4,000	Fixed Pension Rs. 5,000
	Returns after Retirement	Rs. 1.7 lakhs	Rs. 3.4 lakhs	Rs. 5.1 lakhs	Rs. 6.8 lakhs	Rs. 8.5 lakhs
	Remaining Investment Tenure	Per Month Contribution	Per Month Contribution	Per Month Contribution	Per Month Contribution	Per Month Contribution
18 years	42 years	Rs. 42	Rs. 84	Rs. 126	Rs. 168	Rs. 210
19 years	41 years	Rs. 46	Rs. 92	Rs. 138	Rs. 183	Rs. 228
20 years	40 years	Rs. 50	Rs. 100	Rs. 150	Rs. 198	Rs. 248
21 years	39 years	Rs. 54	Rs. 108	Rs. 162	Rs. 215	Rs. 269
22 years	38 years	Rs. 59	Rs. 117	Rs. 177	Rs. 234	Rs. 292
23 years	37 years	Rs. 64	Rs. 127	Rs. 192	Rs. 254	Rs. 318
24 years	36 years	Rs. 70	Rs. 139	Rs. 208	Rs. 277	Rs. 346
25 years	35 years	Rs. 76	Rs. 151	Rs. 226	Rs. 301	Rs. 376
26 years	34 years	Rs. 82	Rs. 164	Rs. 246	Rs. 327	Rs. 409
27 years	33 years	Rs. 90	Rs. 178	Rs. 268	Rs. 356	Rs. 446
28 years	32 years	Rs. 97	Rs. 194	Rs. 292	Rs. 388	Rs. 485
29 years	31 years	Rs. 106	Rs. 212	Rs. 318	Rs. 423	Rs. 529
30 years	30 years	Rs. 116	Rs. 231	Rs. 347	Rs. 462	Rs. 577
31 years	29 years	Rs. 126	Rs. 252	Rs. 379	Rs. 504	Rs. 630
32 years	28 years	Rs. 138	Rs. 276	Rs. 414	Rs. 551	Rs. 689
33 years	27 years	Rs. 151	Rs. 302	Rs. 453	Rs. 602	Rs. 752
34 years	26 years	Rs. 165	Rs. 330	Rs. 495	Rs. 659	Rs. 824
35 years	25 years	Rs. 181	Rs. 362	Rs. 543	Rs. 722	Rs. 902
36 years	24 years	Rs. 198	Rs. 396	Rs. 594	Rs. 792	Rs. 990
37 years	23 years	Rs. 219	Rs. 436	Rs. 654	Rs. 870	Rs. 1087
38 years	22 years	Rs. 240	Rs. 480	Rs. 720	Rs. 957	Rs. 1196
39 years	21 years	Rs. 264	Rs. 520	Rs. 792	Rs. 1054	Rs. 1318

Disclaimer: Policybazaar does not endorse, rate, or recommend any particular company or product. The investment risk in the investment portfolio is borne by the policyholder.

Advantages of Using the SBI Atal Pension Yojana Calculator

The main purpose behind the launch of the SBI Atal Pension Yojana Scheme is to help the individual of the unorganized sectors to get pension amounts officially. By using the Atal Pension Yojana Calculator one can get the following advantages:

Results of the invested amount can be known instantly.
The individual knows the future receivable amount that helps in planning the financial goals.
Data can be customized as per preference.
Accuracy in results with no manual calculations involved.

†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan.
^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
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
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^^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.