Get your free Credit report that cost Rs 1200 for FREE
1. Build your Credit Score
2. Reduce your Current Borrowing / EMI Costs
NPS stands for National Pension System and it is a scheme put forward by the Government of India to provide security to the ex-employees. It is a retirement scheme that aims to give financial independence to people post-retirement.
In this scheme, the savings of an individual are put into the pension fund and invested by fund managers who are approved by the Pension Fund Regulatory and Development Authority of India. The funds are invested in mutual funds, index funds, government bonds and securities, etc. Any individual who wishes to open an NPS account can do so by following two ways, online or offline.
Offline mode of Opening NPS account
Find a Point of Presence that could help you subscribe, verify and receive contributions for NPS
Fill out the application and provide the required documents
The minimum amount that can be deposited under the NPS is Rs.500, and the applicant must also submit a PRAN or Permanent Retirement Account Number
Online method of opening NPS Account
The online procedure of applying for NPS account is way more convenient and user-friendly than the offline mode of opening an NPS account. Here are the steps that an individual needs to follow to open the NPS account through online mode:
Open NPS Account using PAN card
- Provide your mobile number, email address and bank account number in your net banking facility.
- The authorities will do KYC verification once you have submitted copies of the documents
- An amount of Rs.125 is charged a fee for online verification
Open NPS account using Aadhar Card
If you wish to open NPS account by using your Aadhar Number, then you can follow these steps:
- Provide your Aadhar Number
- Enter the OTP received on your Registered Mobile Number
- The authorities will verify the details provided by you
- Once the details are verified, you will be required to make an initial payment of Rs.500
- The Digital Signature Certificate is also needed to be uploaded by the applicant
- After the process is complete, you can take a print out of your NPS Application form, affix photographs and submit it to the NSDL Office within three months.
Get your free Credit report that cost Rs 1200 for FREE
1. Build your Credit Score
2. Reduce your Current Borrowing / EMI Costs
