How to Open National Pension Scheme (eNPS) Online and Offline?

How to Open National Pension Scheme (eNPS) Online and Offline-minHow to Open National Pension Scheme (eNPS) Online and Offline?


National Pension System or National Pension Scheme (NPS) aims at providing suitable income after retirement to every Indian citizen. If you are young and planning for retirement, NPS is one of the best retirement tools which you can plan from now till retirement. You can open National Pension System (NPS) Online and also Offline. You can open NPS with any banks like ICICI, SBI and HDFC. In this article, I would provide details on how you can open NPS online and offline and step by step process in opening through banks.

Features of National Pension Scheme (NPS)


It is one of the best retirement options where you can save money every month or every year till your retirement.

NPS invests your money based on your age and risk portfolio. When you are young, it invests more in equity shares which can provide higher returns in long run. When you move towards your retirement, it moves more to debt so that your money is secured.

You can switch among the funds based on your financial goals.

You can save income tax u/s 80C upto Rs 1.5 Lakhs.

You can get additional tax benefit of Rs 50,000 beyond 80C u/s 80CCD(1B)

There are several other features and benefits of NPS, which you can read here.

How to Open NPS Account Offline and Online?


Any Indian citizen including NRIs from the age 18yrs to 60yrs can open NPS account. To open NPS account online you only need Aadhar card or PAN and Bank account details.

How to Open NPS Account Offline?


Though, not preferable, you can still open NPS account offline with below steps.

  • Find out your nearest (Pop) point of presence. There are nearly 63 PoPs throughout the country and almost all the big banks facilitate this service. These banks subscribe you to NPS, KYC verification and receive NPS contribution from you.
  • Just fill in the registration form with your personal details, bank account number, asset allocation and pension fund you like to choose and your account is opened.
  • Submit all KYC documents and subscribe. In case if you are opening NPS account with your bank there is no need to submit KYC documents.
  • You will get a permanent retirement account number (PRAN) which is unique portable number with you.
  • Minimum investment is Rs. 6,000 every year and you can open your account with a minimum contribution of Rs 500.
  • You have to pay one time subscription fees of Rs. 125 to open your NPS account.
  • You can call the call centres or online websites to access your account with the unique password allotted to you.
  • You have to pay a fee of 0.25% of the amount which is applicable on your transactions if the minimum amount is Rs. 20 and maximum Rs. 25,000.

How to Open eNPS Account Online in India?


This is one of the best method to open NPS account online in India compared to any other online methods with banks.

  • To open eNPS account online go to www.npstrust.org.in and select e-nps.
  • Register your account either with your bank account details and PAN or by your Aadhar number.
  • Fill in the details like your personal details, email Id and bank account number for your KYC verification.
  • NRI can also subscribe to NPS.
  • A onetime subscription fee of Rs. 125 is debited from your account  for opening an account
  • If you are opening account using Aadhar number one time password is sent on your registered number. Fill the form and make initial payment.
  • Take a print of the filled form paste photograph and sign and submit to National Securities Depository Ltd (NSDL) within 90 days.

Also Read: Why NPS is one of the best Retirement Option compared to other retirement plans?

How to Open NPS Account Online with ICICI Bank?


  • Login to ICICI Bank.
  • Register to National Pension Scheme (NPS).
  • Save the service request number and your account will be activated within 1 working day after the procession of the register number.
  • You will get your Permanent Retirement account number through sms from NSDL.
  • Submit the required documents to the ICICI centralized office in Mumbai.
  • You have to pay your first contribution online within 45 days by logging in to www.icicibank.com. Click on the PAYMENTS & TRANSFER option, then select Manage Biller and then select Registered Biller option.
  • Enter your NPS and click ‘Search’. In the Biller section select ‘Register’ option. Enter PRAN and date of birth  and then click ‘Next’
  • Submit the form and you can make payment after 3 working days.

How to Open NPS Account with SBI?


Though, the process is cumbersome, if you wish to open NPS account with SBI, you can follow below process.

  • SBI PENSION FUND PRIVATE LIMITED is one amongst the Pension Fund Managers who are handling subscription amounts.
  • Any individual from the age 18 to 60 years can open an account with SBI National Pension Scheme.
  • You need to visit sbi.co.in and download the NPS form.
  • It requires photo id proof, DOB proof and Address proof as per KYC norms and submit with the application form.
  • Customers can open account under Tier I or Tier I & Tier II scheme with their respective norms and conditions of the schemes.
  • For opening a Tier II account it is necessary to activate Tier I account first.
  • Rs. 1500 is the minimum amount of contribution for opening Tier I and Tier II account together.
  • You need to submit a cancelled cheque for Tier II application or composite application with the application form
  • Any NPS customer can make payment for Tier I and Tier II using E-NPS through SBI E-Pay.

Also Read: How NRI's can open NPS Account in India?

How to Open NPS Account Online with HDFC?


Comparatively, opening NPS account is better with HDFC compared to SBI.

  • Registered Customers having other HDFC securities can login using their Trading User id Password at hdfcsec.com.
  • Click on the Online NPS option.
  • Enter your personal details and print the form and send it to the nearest HDFC branch along with the KYC documents attached.
  • New user has to register their details. Login with their email id and password. Click on the Online NPS. Enter your personal details and print the form and send it to nearest HDFC branch with the attached KYC documents.

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Suresh

How to Open National Pension Scheme (NPS) Online and Offline

10 comments

  • Karan

    Hi Suresh,

    I can understand that NPS invest in equity and debt market in different stages but again there is no fixed return at the end. For retirement plans will it be safe ?
    I was just exploring today on pension options and found SBI Retirement Plans > SBI Life – Saral Pension which is kind of traditional plan with at least gurantanted return but obviously return will not be as high as investing in equity market. Please advice
    Secondly when we apply for NPS account will it by bydefault be Tier I account rt?

    Regards,
    Karan

    • Hi Karan, You can plan for good returns with lumpsum after retirement. However, here we are talking about planning before retirement. If you invest in simple FD’s fo etirement then no meaning. You should be able to get good returns by investing in equity and fixed income options in combination. All these pension plans what you indicating would give 5% to 7% annualised returns. You should consider NPS or alterntaively invest in large cap funds for long term which can fetch you 12% annualised returns

  • Gurumurthy

    Greetings Sir, I am a retired person. I am looking for some good monthly income mutual funds with good returns. I have recently invested in Hdfc Prudential Monthly Divident. I want your suggestions if I can continue with this or change to any other fund with good consistent returns. I plan to invest around 4 to 5 lakhs and looking for monthly income. Please suggest some good funds in this category. Thank you.

  • sathish

    Hi Suresh, I opened my online NPS account by npstrust site. But my question – is there any option for monthly standing order to pay my NPS account directly from my bank saving account. So it’s very helpful for many investors to pay their amount by Systematic Investment Plan (SIP) option for their future retirement purposes.

    • Hi Sathish, We already have this optoin. You can approach POS where you opened NPS. You can give ECS mandate and on that specific date, you can invest fixed amount every month

  • Ela

    I am Tamilnad state government employee. 10% of amount is detdcted from my salary for CPS (Contribution pension scheme).
    Can I show the part of CPS amount Rs . 50,000/- under 80CCD(1B) if the amount in 80C exceeds Rs.1,50,000/-
    Please provide link or attach documents regarding this detection.

  • Biswambhar Agarwal

    For further contribution one can pay through some designated banks online but not axis bank putting axis customers at clear disadvantage

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