National Pension System: How to open NPS Account online
National Pension Scheme (NPS) is a voluntary, defined contribution retirement savings scheme. The NPS has been designed to enable systematic savings during the subscriber’s working life. It is an attempt towards finding a sustainable solution to provide adequate retirement income to every citizen of India. If you are considering to open an NPS account, remember that you will need an active mobile number, email ID and bank account with a Netbanking facility to open NPS account online. Here is a step-by-step guide on how to do it.
NPS Account: Documents required
- Aadhaar or PAN Card. Aadhaar should have a current address and mobile number, PAN should be linked to the bank account.
- Netbanking facility, debit or credit card.
- Passport size photograph (4-12 kb).
- Scanned image of signature (12 kb).
NPS Account: How to open NPS account Online
- You can open an NPS account by visiting eNPS trust website.
- Select, “new registration” and Choose individual.
- Now, proceed with providing your details once your mobile number is verified using an OTP.
- Choose the type of account, Tier1 or Tier2.
- Now, Key in OTP for authentication. If you chose Aadhaar, simple OTP authentication is required. If using PAN, your bank will verify your details and charge Rs 125.
- Fill in personal details. If Aadhaar is used, many details will be prefilled in the form.
- Once you submit your personal and Netbanking details, you need to decide the portfolio allocation among four available funds: equity fund, alternative investment fund, government securities fund and corporate bond fund.
- Once you enter the allocation details, you need to update the nominee details in the next step.
- You need to upload a canceled cheque of the account you mentioned in the form, your photograph, and your specimen signature.
- You have to make your first contribution towards NPS subject to a minimum investment of Rs 500 for Tier1 and Rs 1,000 for tier 2 account.
- You can invest through Netbanking, credit card, and debit card. After payment is approved, you will be allotted a PRAN.
- Now, Download the completed form, Take a print, stick your photo, sign it and mail within 90 days to CRA office.
Also Read: How to avail Tax benefits under NPS