NPS offers a subscriber the option to save for retirement as well as for emergency needs.

These are two NPS accounts Tier I and Tier II. Tier I account is used for retirement savings, Tier II account can be used for savings for emergency needs. Operating guidelines for Tier I and Tier II account are as mentioned below:

 

Tier I NPS Account

Tier I NPS Account

It is mandatory to open Tier I NPS account if you wish to join NPS

Withdrawal from this account is restricted and conditional.

You can open Tier I NPS Account with a contribution as low as Rs.500/-. To keep the Tier I NPS Account active, you need to deposit a minimum of Rs.1,000 each year.

 

Tier II NPS Account

Tier II NPS Account is optional and can be opened either at the time of Tier I NPS Account opening or later.

You can withdraw from this account anytime.

Tier II NPS Account can be opened with initial minimum contribution of Rs.1,000/-. There is no requirement of depositing any minimum amount each year to keep the Tier II NPS Account active.

NPS Registration

Tier I NPS Account

It is mandatory to open Tier I NPS account if you wish to join NPS

Withdrawal from this account is restricted and conditional.

You can open Tier I NPS Account with a contribution as low as Rs.500/-. To keep the Tier I NPS Account active, you need to deposit a minimum of Rs.1,000 each year.

 

Tier II NPS Account

Tier II NPS Account is optional and can be opened either at the time of Tier I NPS Account opening or later.

You can withdraw from this account anytime.

Tier II NPS Account can be opened with initial minimum contribution of Rs.1,000/-. There is no requirement of depositing any minimum amount each year to keep the Tier II NPS Account active.

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Tax Benefits Under NPS

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Investment of Funds under NPS

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Exit & Withdrawal from NPS

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Investment in NPS Annuity

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Charges Under NPS

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