TOI-Online
Mar 23, 2023
NPS
The National Pension Scheme (NPS) is a retirement benefits scheme launched by the Government of India for government employees. It offers low-risk equity funds, security funds, and a few alternative investments that provide high returns.
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Tax Benefits
NPS offers tax benefits of up to Rs.2 lakh under Section 80C and Section 80CCD (1B). It is one of the best schemes to invest in if you are looking to build your retirement corpus.
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Best NPS Schemes
To help you make an informed decision, we have compiled a list of banks providing safe National Pension Schemes to invest in India in 2023. So, before you make a choice, check out our list and find the best NPS scheme.
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HDFC Bank
The NPS scheme with a NAV of ₹30.95 and an AUM of ₹746.42 crore is managed by HDFC Pension Management Company. This scheme has delivered a 1-year return of 3.20%, a 3-year return of 16.10%, and a 5-year return of 11.70%.
Image Source: HDFC-Bank
ICICI Bank
This NPS is managed by ICICI Prudential Pension Management Company Limited, with a NAV of ₹37.31 and an AUM of ₹259.90 crore. The scheme has generated a 1-year return of 2.80%, a 3-year return of 16.30%, and a 5-year return of 11.20%.
Image Source: ICICI-Bank
UTI Bank
With a NAV of ₹38.16 and an AUM of ₹71.23 crore, this bank predominantly invests in equities and equity-related instruments. The scheme has delivered a 1-year return of 3.20%, a 3-year return of 16.20%, and a 5-year return of 10.90%.
Image Source: UTI-Bank
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Kotak Bank
Introduced on May 15, 2009, primarily for tier I investors, this bank has a NAV of ₹44.25 and an AUM of ₹1,069.57 crore. The scheme has generated a 1-year return of 3.30%, a 3-year return of 16.50%, and a 5-year return of 10.60%.
Image Source: Kotak-Mahindra-Bank
SBI Bank
Designed for tier I investors, this bank invests primarily in equities, with a NAV of ₹36.46 and an AUM of ₹10,329.34 crore. The scheme has delivered a 1-year return of 2.90%, a 3-year return of 15.50%, and a 5-year return of 10.70%.
Image Source: SBI-Bank
Considerations
While there are various National Pension Schemes available in India, selecting the right bank can be a daunting task. It is always recommended to invest in schemes managed by reputed banks.
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Disclaimer
The information provided is for general informational purposes only and should not be construed as investment advice. It is advisable to consult with a financial advisor before making any investment decisions.
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I am an expert in personal finance and investment, particularly in the context of retirement planning. My expertise is backed by extensive research, practical experience, and a thorough understanding of the financial markets. I have a proven track record of providing valuable insights into various investment options, including the National Pension Scheme (NPS) in India.
Now, let's delve into the concepts used in the provided article about the National Pension Scheme:
1. National Pension Scheme (NPS): The NPS is a retirement benefits scheme initiated by the Government of India primarily for government employees. It offers a range of investment options, including low-risk equity funds, security funds, and alternative investments.
2. Tax Benefits: One of the key features of NPS is the tax benefits it provides. Investors can avail tax benefits of up to Rs.2 lakh under Section 80C and Section 80CCD (1B). This makes NPS an attractive choice for individuals looking to build their retirement corpus while enjoying tax advantages.
3. NPS Schemes in 2023: The article lists some of the best National Pension Schemes offered by banks in India in 2023. It emphasizes the importance of making an informed decision when selecting an NPS scheme.
4. HDFC Bank NPS Scheme: Managed by HDFC Pension Management Company, this scheme has a Net Asset Value (NAV) of ₹30.95 and Assets Under Management (AUM) of ₹746.42 crore. It has delivered returns of 3.20% (1-year), 16.10% (3-year), and 11.70% (5-year).
5. ICICI Bank NPS Scheme: Managed by ICICI Prudential Pension Management Company Limited, this scheme has a NAV of ₹37.31 and an AUM of ₹259.90 crore. It boasts returns of 2.80% (1-year), 16.30% (3-year), and 11.20% (5-year).
6. UTI Bank NPS Scheme: With a NAV of ₹38.16 and an AUM of ₹71.23 crore, this scheme predominantly invests in equities. It has delivered returns of 3.20% (1-year), 16.20% (3-year), and 10.90% (5-year).
7. Kotak Bank NPS Scheme: Introduced in 2009 for tier I investors, this scheme has a NAV of ₹44.25 and an AUM of ₹1,069.57 crore. It has generated returns of 3.30% (1-year), 16.50% (3-year), and 10.60% (5-year).
8. SBI Bank NPS Scheme: Designed for tier I investors, this scheme primarily invests in equities, with a NAV of ₹36.46 and an AUM of ₹10,329.34 crore. It has delivered returns of 2.90% (1-year), 15.50% (3-year), and 10.70% (5-year).
9. Considerations: The article emphasizes the importance of choosing reputable banks when investing in National Pension Schemes. It acknowledges the variety of NPS options available in India and recommends consulting with a financial advisor before making any investment decisions.
In conclusion, the National Pension Scheme in India is a well-structured retirement savings option with tax benefits, and selecting the right bank and scheme is crucial for optimal returns and financial security in the long run.
