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How to Invest In National Pension Scheme Online

Sep 17, 2021 Alankit

Unlike yesteryears when applying for National Pension Scheme (NPS) was an onerous job, investment in National Pension Scheme has become seamless, time and cost-effective, and pretty simple. With the introduction of eNPS, the process for application of the same takes under 30 minutes to get your account active!

What Does NPS Stand For?

Launched in 2014 by the Government of India, NPS is a pension scheme based on the contribution made by the scheme holder regularly. The objective behind this scheme was to extend the option for creating a bigger retirement corpus for all the citizens of the country irrespective of their age.

Regulated by Pension Fund Regulatory and Development Authority (PFRDA), the NPS was majorly launched for the benefit of government officials only but gradually was extended to every legal citizen of the country. One of the benefits of NPS is that it is a market-linked product ergo, offers returns on it based on the fund’s performance.

One can invest in NPS online in any of the two types of NPS accounts: Tier I and Tier II. You can go for a minimum investment in National Pension Scheme (NPS) starting from Rs. 500 for Tier ! and a minimum of Rs. 250 for Tier II.

Step-wise Investment in National Pension Scheme

The National Pension Scheme allows the citizens of India to invest online. Following are the steps involved in opening the NPS account online.

Step 1: Required Documents

Certain documents are required if you are planning to apply for NPS online.

  • You should have a Mobile Number, Email ID, and an active and Net Banking Facility enabled Bank Account.
  • In case, you select to open the individual pension account with PAN, the activation of the PRAN is subject to KYC verification by the empanelled Point of Presence a.k.a. POP (name and address should match with the POP record) selected by you during the registration process.
  • Fill up all the mandatory details online
  • Scan and upload your photograph (optional for Aadhaar) and signature
  • Make online payment (Minimum amount of ? 500)
  • In case you’re unable to do eSign, Print the form, paste the photograph & affix your signature and submit the form to CRA.

Step2: Log Onto NPS Trust Website

Log on to NPS Websites and get yourself registered for NPS either using your PAN or Aadhar Card.

Step 3: Open NPS Account Through Various Options.

Any individual can open a Pension account under NPS through eNPS using one of the following options:

  • Registration using Aadhaar Offline e-KYC
  • Registration using PAN (KYC verification by Bank/Non-Bank POP)

Step 4: Enter your Aadhar or PAN Number

You will be needed to enter the OTP received on your registered mobile number.

Step 5: Choose The Type of Account

Once you enter the portal, you will be required to choose the type of NPS account (Tier I or Tier II) as per your financial goal. In case you are investing in NPS with other financial ambitions in mind, Tier II is highly suggested in such a situation.

Step 6: Authentication for Aadhar or PAN

You will go through different ways for both Aadhar and PAN services. In case you have login using Aadhar, you will receive an OTP for authentication. For PAN Card, your details will be verified by your Bank and will charge you Rs. 125.

Step 7: Choose Your Investment Mode

You can choose between the auto and active mode where in auto mode, equity allocation eill change automatically with age. On the other hand, active mode gives you the liberty to choose your mix.

Step 8: Choose Your Investment Mix

You can mention how widespread do you want your corpus to be across the fund classes.

Step 9: Assign your Nominee/s

Choose your descendant who would enjoy the corpus in case you die.

Step 10: Contribute and get your PRAN

You need to make a minimum of Rs. 500 contribution for Tier and Rs. 1000 for Tier II. the contribution can be made through all the online modes including net banking, debit card, and credit card.

Step 11: Download Complete Form

In case you are not sending in your digital picture and sign, you need to take a printout of your form, stick your passport size picture, sign the form and send it to Central Record Keeping Agency (CRA) office within 90 Days.

Alankit is the chief distributive point for NPS. All the guidance, support, and all other services related to the NPS from the subscribers are handled and managed by us responsibly. With a team of dedicated professionals and experts, we embark on the responsibilities of initial subscriber registration, KYC verification, transmitting the information thoroughly to the designated mediators in a simple manner, etc. To make the process of eNPS easier, click here and get your doubts cleared.

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