Organisation : Kotak
Facility Name : National Pension Scheme (NPS)
Applicable For : A citizen of India including NRI & OCI
Applicable State/UT : All India
Website : https://www.kotak.com/en/personal-banking/investments/national-pension-system/about-nps.html
What is Kotak National Pension Scheme (NPS)?
National Pension System (NPS) is an investment cum pension scheme initiated by Government of India to provide old age security and pension of all citizen of India. The NPS was rolled out for all citizens of India on May 01, 2009. The Scheme is regulated by Pension Fund Regulatory and Development Authority (PFRDA).
Who Can Join In NPS?
** A citizen of India including NRI & OCI can apply for Kotak National Pension Scheme (NPS)
** Age between 18 years and 70 years at the time of submission of application
** Complied with KYC (Know Your Customers) norms
** As per NPS rules, PIO card holders are not eligible
PRA gives access to two types of NPS accounts to Subscribers :
Tier I Account: This is known as pension account and is mandatory to open.Tax benefit on Investment amount is available only in this Account
Tier II Account: Opening of this account is optional for investment purpose. The subscriber has the flexibility to can withdraw from this account as per their requirements
How To Apply For Kotak National Pension Scheme (NPS)?
Subscribers can apply for Kotak National Pension Scheme (NPS) through the below mentioned routes:
Online Mode : Subscribers can apply for NPS account online
Offline Mode : Subscriber desirous to join NPS can visit nearest Kotak Mahindra Branch and submit the following documents.
Apply Here : https://mynps.nsdl.com/myNPS/NationalPensionSystem.html?appType=main&authId=UzZRTlkxeVNqejRXMHFTVnU3VHoxUT09
KYC Documents as per PFRDA norms:
ID Proof | Address Proof |
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Initial Contribution Amount:
** Rs. 500 if opted only for Tier I account
** Rs. 1500 if opted for both Tier I and Tier II accounts
Note:
** The Cheque should be in favour of “Kotak Mahindra Bank Collection Account – NPS Trust”
** Cancelled cheque is mandatory for opening Tier-II A/C.
** Aadhar and PAN numbers are compulsory and need to be declared