In India, the national pension scheme was introduced by our government in January 2004. It is a reliable and flexible scheme that permits you to invest your money systematically in the NPS account (pension account). After retiring, you can withdraw the amount of money generated and purchased in the pension payment from the keeping fund to secure the financially stable life of the retirement.
If you are going to apply for the NPS account online, then here is the complete guide for you.
Go ahead with the NPS account.
If you want to apply under the pension scheme to secure your future, then you must read the following points. It will work as the key feature.
- The first step towards the top way is to secure you under the national pension scheme in India to get the NPS account.
- Any Indian citizen aged 18 to 60 years is eligible to create the NPS account with the KYC (Know your customer) rules.
- To create the NPS account online, you require your PAN card or Aadhar Card and the net banking facility that the banks enable.
- A scanned signature and passport-size photograph are required to create the NPS account.
- Having all documents ready before choosing the online NPS account is necessary and important.
Classification of NPS accounts
As per your requirements, the NPS account is further classified into Tier I and Tier II.
Tier I: Tier I is the compulsory account that is stronger in terms of the deposits and the withdrawals of the money. On choosing the account, the account holder gets the permanent retirement account number (PRAN) that later becomes the unique identification code for this account.
This type of NPS account needs a minimum investment of Rs500. You can also invest more than this amount until the creation of the retirement fund.
Tier II: this option creates the second type of the NPS account that is only available to those who already have Tier I. This is the more reliable type of the NPS account that needs the minimum investment amount. It works similarly to the Savings bond account, from where you can easily withdraw and invest the money at your convenience.
Conclusion
In this article, we told you about the NPS account and its classifications into Tier I and Tier II. All the information related to the NPS account is relevant and delivered to you. It is concluded that every individual deserves to lead and live their life with a good financial status and the leading their high head life.
Under the national pension scheme, it is a matter of planning to begin the stages of the pension carefully. It is only advised to apply for the pension scheme with the help of the experts only.
Hope they all facts are understood by you in this article. All the information consists most simply. Still, if you have any doubts, then drop your doubts in the comments section.
