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Chartered Accountants

How to Open National Pension (NPS) Account?

1. Through POP-SP

NPS is distributed through authorized entities called Points of Presence (POP’s). Almost all the banks are enrolled presently to act as Point of Presence (POP) under NPS apart from several other financial institutions including NSDL.

To open and invest in NPS account, subscriber will be required to open a NPS account through the Point of Presence (POP) and who will assist the subscriber in opening the account including the filling up of necessary forms, providing the information about NPS and any other relevant information in this regard. The authorized branches of a POP, called Point of Presence Service Providers (POPSPs), will act as collection points and extend a number of customer services to NPS subscribers including requests for withdrawal from NPS.

One can know the location/address of POP-SP nearest to his/her place of residence for opening a NPS account online or by downloading the following files

POP details Click Here >>
POP-SP details Click Here >>

POP-SP location can be accessed at the following link by specifying your state and city:

NPS

https://www.npscra.nsdl.co.in/pop-sp.php

2. Online eNPS

Online eNPS can facilitate the following:

Opening of Individual Pension Account under NPS (only Tier I / Tier I & Tier II)
Making initial and subsequent contribution to your Tier I as well as Tier II account

For Account opening, you need to:

Have Mobile number, email ID and an active Bank account with net Banking facility enabled.
Have an Aadhaar (with a mobile number registered with Aadhaar) or a PAN Card.
In case, an applicant selects to open the individual pension account with PAN, the activation of the pension account is subject to KYC verification by the empanelled Banks in which applicant has a savings bank/current account as selected by applicant during the registration process. A onetime fee of up to a maximum of Rs. 125 (plus applicable taxes) will be debited from your Bank account by the Bank as KYC authentication charges.(KYC not required in case of Aadhaar).

The list of empanelled banks for KYC is as under:

1	Allahabad Bank
2	Bank of India
3	Bank of Maharashtra
4	Corporation Bank
5	IDBI Bank Limited
6	Indian Bank
7	Oriental Bank of Commerce
8	State Bank of Bikaner & Jaipur
9	State Bank of Patiala
10	State Bank of Travancore
11	Syndicate Bank
12	Tamilnad Mercantile Bank Ltd
13	The Lakshmi Vilas Bank Limited
14	The South Indian Bank Limited
15	United Bank of India

Fill up all the mandatory details online
Scan and upload your photograph (optional if verification is done through Aadhaar) and signature.
Make online payment (Minimum amount of Rs 500)
Print the form, paste photograph & affix signature and submit the Form to CRA-FC of NSDL

CRA-FC is the entity appointed by NSDL to extend various services under NPS, to its users across the country. The entities who have been appointed as CRA-FC shall establish multiple branches across the country to provide services to the nodal offices such as Pay & Accounts Office (PAO) or equivalent office under Central and State Government.

As per present scope of CRA, following services shall be offered by the CRA-FC

a. Acceptance of Application for allotment of new PRAN

b. Acceptance of Subscriber request for change in signature and/or change in photograph.

One can search CRA facilitation Centre of his city at the following link:

NPS

https://www.npscra.nsdl.co.in/cra-fc.php

eNPS can be accessed for registration or contribution at the following:

Under NPS account, two sub-accounts – Tier-I & Tier-II are provided.

Tier I account is mandatory and the subscriber has option to opt for Tier II account opening and operation. The following are the salient features of these sub-accounts:

Ø Tier-I account: This is a non-withdrawable retirement account which can be withdrawn only upon meeting the exit conditions prescribed under NPS.

Ø Tier-II account: This is a voluntary savings facility available as an add-on to any Tier-1 account holder. Subscribers will be free to withdraw their savings from this account whenever they wish

All NPS subscribers can contribute in Tier I & Tier II account through 'eNPS' using SBI ePay.

List of Banks associated with SBI ePay,

Sr.No.	Bank Name	Sr.No.	Bank Name
1	Allahabad Bank - Retail	21	Kotak Mahindra Bank
2	Andhra Bank	22	Lakshmi Vilas Bank
3	Andhra Bank - Corporate	23	Oriental Bank of Commerce
4	Bank of India	24	Punjab and Maharashtra Co-operative Bank Ltd
5	Bank of Maharashtra	25	Punjab and Sind Bank
6	Catholic Syrian Bank	26	Saraswat Bank
7	City Union Bank	27	South Indian Bank
8	Corporation Bank	28	State Bank of Bikaner and Jaipur
9	DCB Bank Personal	29	State Bank of Hyderabad
10	Dena Bank	30	State Bank of India
11	Dhanlaxmi Bank-Retail	31	State Bank of Mysore
12	Federal Bank	32	State Bank of Patiala
13	IDBI Bank-Retail	33	State Bank of Travancore
14	Indian Bank	34	Syndicate Bank
15	IndusInd Bank	35	Tamilnad Mercantile Bank
16	ING Vysya Bank-now Kotak	36	UCO Bank
17	Jammu and Kashmir Bank	37	United Bank of India
18	Janata Sahakari Bank Ltd. Pune	38	Vijaya Bank
19	Karnataka Bank Ltd	39	YES Bank
20	Karur Vysya Bank	40	Canara Bank

NPS Frequently Asked Questions FAQ Click Here >>

Procedure/How to open National Pension Scheme Account. eNPS through CRA FC of NSDL or through Pont of Presence Service Provider (POP-SP) | 21-02-2016 |