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National Pension Scheme (NPS)

 

  • NPS is a voluntary defined contribution retirement saving scheme
  • Yields market based returns
  • NPS is regulated by PFRDA
  • Pension funds are invested by PFRDA
  • Bank's designated branches i.e. Point of Presence-Service Provider (POP-SPs) accept the application form and get the subscriber(s) registered with Central Record keeping Agency (CRA) for generation of the Permanent Retirement Account Number (PRAN). 931 branches authorized as pop-sp
  • NPS services: collection , filling and submission of subscription forms, The PRAN will be quoted in all future transactions.
  • NPS is available for corporates and individuals through corporate model and all citizen model respectively
  • Two types of account available for both models
    • Tier i : pension account
    • Tier ii : investment account
  • Investment option
    • Active choice(manual intervention required)
    • Auto choice(predefined investment)
  • Contribution
    • Tier i: min rs 500 at the time of opening account, min rs 6000 contribution per financial year
    • Tier ii: initial contribution is rs.1000, minimum a/c balance 2000 per financial year
  • Tax benefit
    • Tax is exempted of 1.5lakh under 80cce
    • Additional saving of 50000 under tier i is exempted under 80ccd(1b)

For more details or any assistance you may please visit PSB branch.

 

For Hot Listing (Blocking)
ATM/Rupay Cards
(By SMS) 9223815844
For Debit Freeze Account
(By SMS) 8828837411
For Balance Enquiry
(By Missed Call) 7039035156 (Toll Free)
All India Toll Free 1800-419-8300