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Disclaimer: By clicking the following link you are being directed to a third-party website owned by CRA Karvy Computershare Pvt. Ltd. All liabilities acts and omissions arising therefrom, would be at your and Karvy's risk and responsibility. The Bank will not be liable for any act or omission arising therefrom.




Overview

NPS is an easily accessible, low cost, tax-efficient, flexible and portable retirement savings account. NPS is a defined contribution based pension scheme wherein the subscriber contributes to his / her account regularly. The accumulated wealth would depend on the contributions made and the income generated from investment of such wealth.

Keeping this background in mind, Govt of India formed the Pension Fund Regulatory & Development Authority (PFRDA) for developing & regulating Pension System in India. PFRDA launched National Pension System (NPS)

NPS is a Defined Contribution based Pension Scheme launched by Govt. of India.

CONTRIBUTION + INVESTMENT GROWTH - CHARGES = ACCUMULATED PENSION WEALTH

Who can Invest Online ?
- A citizen of India between the age group of 18 years & 65 years

  • Enter PAN Details
  • Keep Scan copy of Cheque ( IndusInd Bank only), Photograph & Signature ready for upload
  • Enter Personal Details
  • On entering personal details an acknowledgement number will be generated.
  • Enter contact details. Please enter address as provided at the time of opening IndusInd Bank account.
  • Enter IndusInd Bank Account details
  • Select scheme details & the allocation thereof.
  • Enter nomination details.
  • Upload Photo, Signature and Cheque Copy.
  • Provide FATCA declaration
  • Complete E-Sign. E-Sign eliminates the need to send the application form to KARVY CRA.
  •  Fields marked in * are mandatory to enter.

For any queries/ grievance please write to us at customercare@indusind.com

Features

Benefits

  • Low Cost Investing and Compounding
  • Transparency, Portability & Flexibility
  • Tax-Efficient
    An individual can claim deduction u/s 80 CCD (1B) for contribution to NPS (Upto a maximum of Rs. 50,000). This is over & above Rs. 1.5 lac deduction already available u/s 80 C where NPS also qualifies

Types of NPS Accounts

There are two type of NPS accounts – Tier I & Tier II NPS accounts

Tier-I account

  • Tier-I account is mandatory for opening NPS account.
  • This is a restricted account and withdrawals are subject to meeting certain terms and conditions prescribed under NPS.
  • Tax Benefits are associated with this account.

Tier-II account

  • This is a voluntary savings facility available as an add-on to any Tier-1 account holder.
  • Subscribers are free to withdraw their savings from this account.
  • There are no tax benefits associated with Tier-II account.

Minimum Contribution Requirements

For All Citizen Model Tier-I Tier-II
Minimum Contribution at the time of account opening Rs. 500 Rs. 1000
Minimum amount per contribution Rs. 500 Rs. 250
Minimum total contribution in the Year Rs. 1000 -
Minimum frequency of contributions 1 per year -

Investment Choices

NPS offers 2 approaches to invest

Active Choice

Subscriber can actively decide as to how the funds are to be invested across asset classes and their percentages. Asset class Equity (E), Corporate Bonds (C) & Govt . Securities (G).

Auto Choice

Subscriber has the choice of three life-cycle funds i.e. Aggressive Life cycle fund, (LC-75), Moderate Life cycle Fund (LC-50) and Conservative Life cycle Fund(LC-25). Investment is made from a life-cycle approach. Allocation is progressively decreased in Equity & increased in Bonds & Govt Securities.

 

How are the funds managed under NPS?

The funds contributed by subscribers are managed by PFRDA registered Pension Funds.

At present, Subscriber has option to select any one of the following eight pension funds:

  • HDFC Pension Management Company Ltd
  • ICICI Prudential Pension Fund
  • LIC Pension Fund Ltd
  • Kotak Mahindra Pension Fund
  • SBI Pension Fund
  • UTI Retirement Solutions Pension Fund
  • Birla Sunlife Pension Management Ltd.

Fees & Disclosure

Charges under NPS

Intermediary Charge Head Service Charge Frequency of Deduction Mode of Deduction
POP (Service Provider) Subscriber Registration Rs.200 One time To be collected upfront
Contribution Processing* 0.25% On each transaction
Non – Financial Transaction Processing Rs.20
CRA (KARVY) PRAN Generation Rs.39.36 One time From NPS Account (by cancelling the Units) on the last day of the calendar quarter
Account Maintenance Rs.57.63 Per annum
Financial Transaction Processing Rs.3.36 On each transaction
Fund Manager Investment Management 0.01% Per annum Recovered through NAV deductions
Custodian Asset Servicing 0.00%

*Minimum Rs.20 and Maximum Rs.25,000 per contribution

Disclaimer

NPS is launched & regulated by PFRDA- A GOI regulatory body . NPS is not a product/offering/recommendation / advise / solicitation by IndusInd Bank. IndusInd Bank acts only as a Point of Presence registered with PFRDA to facilitate processing of NPS related services. NPS corpus may be invested in market related instruments as per guidelines of PFRDA . These instruments may carry market related and other risks and IndusInd Bank shall not be responsible for any losses/changes in fund value or NAV of the amount invested. IndusInd Bank doesn’t guarantee any returns. IndusInd bank makes available NPS related services and doesn’t recommend choice of any scheme, allocation or fund manager, this being solely at customer discretion. Contribution payments are subject to PoP Service charges & applicable taxes, thus actual amount invested will be net of charges & taxes. Any application made by subscriber already registered is liable to be rejected. Third party payments are not allowed in Tier II contributions. Kindly refer pfrda.org.in to understand risks, CRA charges and other factors before inv

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  • SAVINGS RATES

  • Daily balance Upto Rs. 1 Lakh 4 %
  • Daily balance above Rs. 1 Lakh & upto (& including) Rs. 10 Lakhs 5 %
  • Daily balance above Rs.10 Lakhs 6 %
  • DEPOSIT RATES

  • Above 1 year 4 months to below 2 years 7.25 %
  • Indus Tax Saver Scheme - 5 years (upto Rs 1.5 lacs) 7.15 %
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