National Pension System

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National Pension System
  • Account Opening
  • Contribution

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National Pension System (NPS) is a voluntary defined contribution retirement savings scheme.

NPS account opening

Features:

  • NPS offer exclusive Tax benefit for investment upto Rs. 50,000 under Sec 80CCD(1B)
  • It is regulatedby the Pension Fund Regulatory and Development Authority(PFRDA) and undergoes regular monitoring and performance review.
  • NPS offers a flexible range of investment
  • It offers 2 accounts: Tier I and Tier II with 2 investment options(Active choice and Auto choice). In active choice, the allocation is decided by the subscriber. In auto choice, subscribers are completely assisted in asset allocation decisions.

Eligibility:

  • A resident citizen of India
  • Between 18 years to 70 years of age as on date of submission of his/her application
  • Subscriber should comply with the prescribed Know Your Customer (KYC) norms.
  • PAN card is mandatory.

NPS Contribution

Features:

  • Contribution to Tier I and Tier II account through YONO App.
  • Option to link NPS account
  • Option to set Standing Instruction (SI)/delete existing SI .

Eligibility

  • Contribution to Tier I and (or) Tier II when the account is active
  • Minimum contribution of Rs. 500 in Tier I(exclusive of GST)
  • Minimum contribution of Rs. 250 in Tier II(exclusive of GST)

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Last Updated On : Tuesday, 16-07-2024

Interest Rates

8.50%* p.a. onwards

w.e.f. 05.04.2024

*T&C Apply.

 

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