National Pension System
National Pension System Key Features and Benefits Eligibility How to Enrol Steps for online NPS account opening Fee and charges

Introducing the National Pension System (NPS)

As a leading financial institution committed to empowering our customers with secure and rewarding financial solutions, we are thrilled to introduce the National pension scheme.

 

 

What is the National Pension System (NPS)?

The National Pension System (NPS) is a voluntary, long-term retirement savings scheme designed by the Government of India. It provides individuals with an opportunity to accumulate savings during their working years to secure a steady income post-retirement.

Key Features and Benefits:

Flexible Contributions

  • NPS offers flexibility in contributions, allowing subscribers to invest periodically according to their financial capabilities.

Tax Benefits

  • Enjoy tax benefits under Section 80C and Section 80CCD(1B) of the Income Tax Act, 1961, by investing in the NPS scheme. Additionally, contributions by employers are exempted from tax under Section 80CCD(2).

Choice of Investment

  • Subscribers can choose between various investment options, including Equity (E), Corporate Bonds (C), and Government Securities (G), offering a diversified portfolio tailored to individual risk preferences.

Portability and Accessibility

  • NPS accounts are portable across locations and jobs, providing subscribers with the flexibility to continue their investments seamlessly, irrespective of changes in employment or location.

Regular Income Post-Retirement

  • Upon reaching the age of 60, subscribers can withdraw a portion of the corpus as a lump sum and utilize the remaining amount to purchase an annuity, ensuring a steady income stream during retirement years.

Eligibility

  • You should be a citizen of India, be it a resident, a non-resident or an Overseas Citizen of India.
  • You should be between 18 and 70 years of age.

How to Enrol

  • Enrolling in the NPS scheme through Ujjivan is simple and hassle-free.
  • Click here to login into Internet banking and navigate yourself under investment tab. Then click on NPS to start the enrolment process.

Steps for online NPS account opening:

  • You can enrol for NPS by clicking on 'Online Registration' option under NPS (National Pension System) under investment Tab
  • You will get online form, which needs to be filled with mandatory fields.
  • Your acknowledgement number for registration (account opening) will be generated. There will be provision to complete the registration (account opening) later based on acknowledgement number search.
  • Your KYC will be done through PAN (OTP based authentication) and the address maintained with the existing account of Ujjivan Small Finance Bank. Please ensure the address mentioned is the same as maintained with the bank’s database. Aadhaar-based KYC verification can also be opted as per your convenience.
  • Enter your remaining details like bank details, scheme details, nominee details, etc.
  • You need to upload photograph, signature, Cheque and PAN
  • Enter the contribution amount (the amount you want to invest in NPS) and click for payment.
  • Once done, you will be directed to online payment platform wherein you will complete the payment through any net-banking option of an existing bank.
  • On successful payment, PRAN will be allotted to you and PDF form will be generated based on data given. This can be saved for reference.
  • You will also have the option of e-Sign/dual OTP authentication. Once eSign/dual OTP authentication is completed, the physical form need not be submitted.

For any queries kindly reach out to Ujjivan SFB Phone Banking unit.

Fee and charges

IntermediaryCharge HeadService Charges*
Charges by Bank - Point Of Presence - POP (Maximum Permissible Charge for each Subscription)Initial Subscriber RegistrationMinimum Rs. 200/- and upto Rs.400
Initial ContributionUpto 0.50% of initial contribution amount subject to a minimum of Rs.30/- and a maximum of Rs.25,000
Any subsequent Contribution 
All Non-Financial TransactionsRs.30/-
Charges by Bank - Point of Presence - POP (Through cancellation of Units)PersistencyRs. 50/- per annum for annual contribution of Rs.1000 to Rs.2999.
Rs.75/- per annum for annual contribution of Rs.3000 to Rs.6000.
Rs.100/-per annum for annual contribution above Rs.6000
M/s NSDL e-Governance Infrastructure LtdPermanent Retirement Account Number (PRAN) Opening ChargesRs.40/-
PRAN AnnualRs. 69/-
Maintenance Charges 
Charge per transactionRs. 3.75/-
NPS TrustReimbursement of Expenses0.005% p.a. of total accumulated amount
CustodianAsset Servicing charges0.0032% p.a for Electronic segment & Physical segment.
PF chargesInvestment Management Fee0.03% to 0.09%(depending on the slabs of AUM managed by the Pension Fund.