NPS Vatsalya scheme got around 9,700 minor subscribers on the first day of its launch. Finance Minister Nirmala Sitharaman officially launched the NPS Vatsalya scheme on 18 September. The scheme was announced during the full budget presented in July.

The Pension Fund Regulatory and Development Authority (PFRDA), which manages the NPS Vatsalya scheme, said that NPS Vatsalya received a good response on the first day of its launch. 9,705 minor subscribers joined the scheme through Points of Presence (POP) and the e-NPS portal. Out of this, 2,197 accounts were opened through the e-NPS portal.

NPS Vatsalya is a savings-cum-retirement scheme
NPS Vatsalya scheme is a savings-cum-retirement scheme. By investing in this scheme, you can also deposit a huge fund for your children. If you invest Rs 10,000 annually, your children can become millionaires.

The account will be in the name of the child after 18 years.

According to PFRDA, when the child turns 18, the account will be automatically converted into an NPS Tier-1 account in the name of the child.

NPS Vatsalya Calculator
If parents deposit Rs 10,000 every year for 18 years, then by the end of this period, a fund of about Rs 5 lakh will be ready according to the expected return rate (RoR) of 10%.

Rs 11 crore will be deposited from 10 thousand.

The total corpus at the age of 60 based on a 10 percent annual return is Rs 2.75 crore.

The total corpus at the age of 60 based on an 11.59 percent annual return is Rs 5.97 crore.

The total corpus at the age of 60 based on 12.86 percent annual return is Rs 11.05 crore.