Axis Bank NPS Calculator

The Axis Bank NPS Calculator is a smart and easy-to-use tool that helps you estimate your retirement savings and monthly pension under the National Pension System (NPS). Axis Bank, being an authorized Point of Presence (PoP) under the NPS, offers customers the ability to open NPS accounts and manage contributions easily through its branches and digital platforms. Whether you are a salaried employee or self-employed, the Axis Bank NPS Calculator is the perfect solution to visualize and plan for a financially secure retirement.

What is Axis Bank NPS?

Axis Bank NPS is a government-regulated pension product that helps individuals accumulate retirement wealth over the long term. With the support of Axis Bank’s vast network and digital services, opening and managing your NPS account is seamless. Axis Bank provides both Tier I and Tier II account facilities with simple contribution and tracking systems.

Key Features of Axis Bank NPS

• Open NPS account through any Axis Bank branch or online
• Tier I (mandatory) and Tier II (optional) accounts available
• Minimum annual contribution of ₹1,000 for Tier I
• Nomination facility and online PRAN generation
• Track portfolio performance online

How the Axis Bank NPS Calculator Works

This calculator provides an estimate of your future pension amount based on:

• Current age
• Retirement age (typically 60)
• Monthly contribution
• Expected annual return (8% to 10%)
• Percentage allocated to annuity (minimum 40%)
• Expected annuity rate (e.g., 6%)

The calculator then displays:

• Total retirement corpus
• Lump sum withdrawal (up to 60%)
• Monthly pension (from the annuitized portion)

Benefits of Using the Axis Bank NPS Calculator

• Visualize how much you will accumulate for retirement
• Plan contribution amount based on financial goals
• Estimate your monthly pension income post-retirement
• Understand tax benefits under Section 80CCD(1) and 80CCD(1B)
• Make informed decisions about annuity and withdrawal

Tax Benefits of Investing via Axis Bank NPS

• Deduction up to ₹1.5 lakh under Section 80CCD(1)
• Additional ₹50,000 deduction under Section 80CCD(1B)
• Employer contributions up to 10% of salary are tax-exempt under Section 80CCD(2)

Example Calculation

Let’s assume you are 28 years old and invest ₹4,000 monthly in NPS via Axis Bank until retirement at age 60. Assuming a 9% annual return and 40% annuity investment at 6% annuity rate, you will get:

• Total corpus: ₹1.02 crore
• Lump sum withdrawal: ₹61.2 lakh
• Monthly pension: ₹20,400 (approx.)

Steps to Open NPS Account via Axis Bank

1. Visit your nearest Axis Bank branch or apply online
2. Submit NPS registration form and KYC documents
3. Choose your preferred Pension Fund Manager and investment scheme
4. Receive your PRAN (Permanent Retirement Account Number)
5. Start contributing online or offline through Axis Bank

Why Choose Axis Bank for NPS?

• Trusted banking partner with robust digital infrastructure
• Quick account opening process with e-KYC
• 24×7 online access to NPS portfolio
• Dedicated customer service and support

Conclusion

The Axis Bank NPS Calculator is a reliable and essential tool for those planning their retirement through Axis Bank. With its intuitive interface, realistic projections, and tax-saving insights, it helps you make informed choices about your retirement investments. Start early, invest regularly, and let Axis Bank guide your journey toward a financially secure retirement.

Open your NPS account with Axis Bank today and use the calculator to estimate your pension wealth!