The Atal Pension Yojana is a government pension scheme that was launched in 2015 to offer financial security to the people working in the unorganised sector after their retirement. The eligible candidates make monthly contributions to this scheme and receive the accumulated corpus once they turn 60. If you are planning to apply for this scheme in SBI, then you should about the Atal Pension Yojana SBI calculator.
This calculator allows you to know how much pension and lump sum amount you’ll receive when you retire at 60.
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I am attaching an SBI Atal Pension Yojana calculation chart with this answer for your reference.
How to Calculate Atal Pension Yojana
You can use this formula to calculate Atal Pension Yojana:
Atal Pension Yojana = (1 + r/n)n – 1
Here,
n = the no. of times interest is compounded in a year
r = the rate of interest
APY scheme calculator
You can use the official Atal Pension Yojana calculator of NPS Trust as well.
To use this calculator, determine how much you need to pay. Your monthly contribution depends on the age when you start investing and the pension option you select.
For instance, if you begin investing in this scheme at 18, you have to invest for 42 years to get your pension once you turn 60. If you select the Rs. 1,000 pension option at 18, your contribution will be Rs. 42.
- Visit the official website (link given below)
- Choose your age, expected return, pension, and annuity rate.
- After that, you’ll get your quarterly, half-yearly, and monthly contribution based on your pension option. Also, you’ll get an estimated idea of total investment and corpus over the years.
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How to calculate Atal Pension Yojana?
Indu
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2022-08-09T16:21:14+00:00 2022-08-10T18:46:29+00:00Comment
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