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1 Minute Read: Here Is How To Open An NPS Account

Team BankBazaar


Whether you have just started earning or are nearing retirement, one thing is for sure – you need to give a serious forethought about old age, as expenses continue to propel.

Investing in NPS (National Pension Scheme), which is available for all citizens of all sections, aged 18-60, would ensure a decent return on investments post-retirement.

The application for this is fairly easy. You can register using your PAN or Aadhaar card.

Here’s how to apply for NPS online, step-by-step:

  1. Open the official website of NPS and click on “register”.
  2. Click on ‘Online Subscriber Registration’ option. Fill details and click on generate OTP.
  3. Enter the OTP you receive on your mobile.
  4. Upload your scanned signature and photograph.

Submit the form and you will be redirected to a payment gateway. Pay the minimum amount for NPS i.e. INR 500/-.

  1. Permanent Retirement Account Number (PRAN) will be allotted to you followed by an IPIN, TPIN, and scheme details within a few days.
  2. Take a printout of the online form that you filled, affix a photo and sign it, and send to Central Record Keeping agency.

The Offline Method To Apply:

  1. Go to the nearest bank and fill a Permanent Retirement Account Number (PRAN) application form and submit it along with a minimum payment of INR 500/-.
  2. Submit the first contribution slip as well as an NCIS (instruction slip) that states the details of the payment made towards the PRAN account.
  3. Track your application at: https://cra-nsdl.com/CRA/pranCardStatusInput.do

Also, it is useful to remember that Tier-I NPS Account is a basic type of pension account with withdrawal limitations i.e. you can’t withdraw until retirement. However, Tier-II NPS Account allows partial withdrawals for specific reasons (medical, higher education, and marriage of children).