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How To Open NPS Account | National Pension Scheme | Online

National Pension Scheme (NPS) is the most economical retirement savings scheme launched by the Indian Government. This scheme has been designed to enable systematic savings during the subscriber’s working life.

In 2004, the outline of the National Pension Scheme was sketched keeping the newly employed with Central Government in mind, excluding the armed forces. However, in the year 2009, NPS made available to every Indian citizen between the ages of 18 to 60 years.

Some Important Links
NPS All Information
NPS Statement/Account Balance
Link NPS Account With Aadhaar Card

There are two types of accounts under NPS. Also, one Unique Permanent Retirement Account Number (PRAN) is allocated to each subscriber under the NPS at the time of their joining.

  1. Tier I Account – Under these account subscribers are not allowed to withdraw their account before attaining the retirement age, as this account is solely meant for savings after the subscriber’s retirement. Also, Government of India mandated employees to invest or direct 10% of their salary into this account.
  2. Tier II Account – Under this account, a subscriber can operate this account as per their convenience. They can make as many withdrawals as possible as it is a regular savings account. However, a subscriber must possess a Tier I account in order to open a Tier II account.

After Government has introduced e – NPS, opening an online NPS account became more seamless, time-saving and easy.

Keep the following things handy to open an individual online NPS account

  • A mobile number, email id and an active bank account with internet banking facility
  • Aadhaar number with a mobile number registered with it
  • Scanned copy of photograph, cancelled cheque and signature
  • Minimum amount of 500 in your bank account or debit card

Read below to open an NPS (National Pension Scheme) account Online

There are two ways to open an NPS account

Opening online NPS account using Aadhaar Card

  • Link your Aadhaar number to your mobile number(here)
  • The NPS KYC (Know Your Customer) will be done through your registered mobile number by sending an OTP (One Time Password) to it for authentication purposes
  • Your data along with your picture will be drawn out from you Aadhaar database and used in the NPS online form.
  • Then fill all the necessary details online
  • For registration purposes, upload your signature in a .jpg or .jpeg format between the sizes of 4 to 12 kb.
  • You can replace your Aadhaar picture by uploading a new one instead
  • You can then simply make the initial contribution to your e – NPS account through Net Banking or Credit / Debit Card.

Opening online NPS account using PAN card

  • In this process, it is important to make your savings account empanelled with NSDL (National Securities Depository Limited)
  • Your bank details should match the details on your online NPS account. In case details, not match, the bank can deny your registration application and you would then have to contact the bank personally.
  • Fill in all the mandatory fields.
  • Upload a scanned picture and signature.
  • You will have to use Internet Banking to make the initial contribution.

NPS account is beneficial to the individuals as it is open to every Indian citizen and is entirely voluntary. It offers subscribers adapted by allowing them to choose where to invest their money in as well as who should manage their investments. Also, after introducing e – NPS, the enrolment process became very simple and convenient for the individuals.

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