The NPS Calculator of ICICI Bank is a powerful online tool designed to simplify your financial planning in the National Pension Scheme (NPS). Whether you are a seasoned investor or just getting started, this user-friendly calculator empowers you to compute and optimize your NPS contributions effortlessly. Unlock the potential of your retirement savings with the ICICI NPS Calculator.
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†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
Total Investment
Returns Earned
Maturity AmountThe Pension Fund Regulatory and Development Authority (PFRDA) regulates the National Pension Scheme (NPS) as the best investment option to create a corpus for post-retirement life.
The ICICI NPS Scheme is a retirement savings plan offered by ICICI Bank. It is part of the National Pension System (NPS), which aims to help you build a corpus for your retirement years. With the ICICI NPS Scheme, you can contribute regularly and benefit from potential market returns, ensuring a secure financial future.
The ICICI National Pension Scheme calculator helps calculate the lump sum amount that you can expect at your retirement age as per your contributions. This estimation can help you make deposits while keeping your retirement goals and needs in mind.
The ICICI NPS Calculator is an easy-to-use and hassle-free tool for calculating the lump sum amount to be received on the maturity of this best investment plan. You need to enter a few of the basic details related to the scheme in the ICICI Bank NPS Calculator:
Your current age
Investment frequency (monthly, half-yearly, or yearly)
Investment amount
NPS options (Auto or Active choice)
This compound interest formula is essential for computing the maturity amount in the ICICI NPS account.
Let us understand the use of the ICICI NPS Calculator from the example mentioned below.
If you invest in an ICICI NPS account with the following details-
Age of Investment: 30 years
Monthly investment: Rs. 10,000
Expected Rate of Return: 10% p.a.
The maturity age for your NPS account is 60 years.
Investment Tenure: 30 years
Yearly Investment: Rs. 10,000 × 12 × 30 = Rs. 36 lakhs
Using the compound interest formula:
A = P (1 + r/n) ^ nt
A = 36,00,000 (1 + 0.10) ^ 30
Resulting in a Maturity Amount, A = Rs. 2,26,04,879
Interest Earned = Rs. 1.90 crores
Minimum Annuity Investment = Rs. 90.41 lakhs
ICICI Bank NPS Calculator helps you estimate your pension amount upon retirement. Follow the steps mentioned here to use the ICICI National Pension Scheme Calculator:
Step 1- Go to the NPS calculator of ICICI Bank on this page.
Step 2- Enter the following details in the calculator:
Investment type (monthly or yearly)
Investment amount
Entry age
Expected rate of return
Step 3- The ICICI Prudential NPS Calculator displays your estimated monthly pension and maturity amount.
ICICI NPS Calculator is a popular computation tool that provides you with several advantages, such as follows:
Estimates retirement income: The NPS calculator- ICICI Bank helps calculate your potential pension based on investment amount, period, and expected returns, aiding in retirement planning.
Supports informed decisions: It shows how different investment strategies affect retirement income, helping you decide how much to invest and for how long.
Easy planning: The ICICI Bank NPS Calculator helps in planning for retirement by calculating potential returns.
Customization: The calculator allows you to insert various parameters like investment amount, age, etc., for personalized results.
Efficiency: The ICICI Prudential NPS Calculator saves time by swiftly generating accurate results.
Accessibility: The ICICI National Pension Scheme calculator is accessible online, making it convenient for you to utilize it anytime, anywhere.
To open an NPS account with ICICI Bank and avail of the benefits of this ICICI National Pension Scheme calculator, you must meet the following eligibility criteria:
Resident Citizens of India
Non-Resident Indian (NRI)
Minimum age of 18 years
Maximum age of 70 years
Mandatory KYC compliance
Up to 1 NPS account per individual
Under the New vs. Old Tax Regime in FY 2024-25 (AY 2025-26), the following tax benefits are available for NPS contributors:
| Tax Regime | Deduction Details |
| Old Regime | - You can deduct your NPS contributions from taxable income, capped at 10% of salary (salaried) or 20% of gross income (self-employed). - Overall limit of Rs. 1.5 lakh for deductions under 80C, 80CCC, and 80CCD(1). - Employer's NPS contributions (up to 10% of salary) are also deductible. |
| New Regime | - Employer's NPS contributions (up to 10% of salary) remain deductible. - No separate deduction for individual NPS contributions under the new regime; |
The ICICI NPS calculator offers a convenient and efficient way for you to assess your National Pension System (NPS) contributions. The ICICI NPS calculator simplifies the retirement planning process with user-friendly features and accurate calculations. You can make informed decisions about your financial future by utilizing this tool, ensuring a smooth and well-managed approach to retirement savings with ICICI.
Decide how much to contribute regularly (monthly, quarterly, or annually).
Choose your investment allocation in NPS among equity (E), corporate debt (C), government bonds (G), and alternative investment funds (A) based on your risk tolerance.
Use the calculator to estimate your retirement savings, considering the compounding effect of your chosen return rate and contribution period.
At retirement, withdraw up to 60% as a lump sum; the rest will go towards purchasing an annuity.
The calculator will estimate your monthly pension based on the annuity rate.
National Pension Scheme (NPS): Offers potentially higher returns due to its market-based investment approach. However, it comes with higher risk and limited withdrawal options before retirement.
Public Provident Fund (PPF): Provides a fixed interest rate set by the government and is considered a low-risk investment. However, it offers lower returns compared to NPS and has some limitations on withdrawal flexibility.
Choosing between NPS and PPF depends on your individual risk appetite and retirement goals. Consider factors like your investment horizon, risk tolerance, and desired returns before making a decision.
†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.
~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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