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BEST FOR

Low-cost retirement savings

  • Government backed Scheme

  • Triple Tax Benefits

  • Lifetime Pension

  • PFRDA Regulated

  • Starts at Age 18

How to Open NPS Account?

About

Eligibility Criteria

Open to Indian citizens aged 18 to 70 years, ensuring broad access to plan your retirement early or even later in life with ease.

Simple Application Process

Apply online via iMobile or Net Banking by submitting personal, nominee details, photo, and signature, followed by document verification and PRAN generation.

Contribution Guidelines

Make your first NPS contribution online within 45 days of PRAN generation to activate your account and start building your retirement corpus seamlessly.

Secure & Regulated

NPS is regulated by PFRDA and backed by the Government of India, offering a low-cost, transparent, and trustworthy retirement savings plan

How to Invest in NPS
  • Step 1: Login to Net Banking > Investments and Insurance > National Pension System
  • Step 2: Click on Make Contribution and fill mandatory details
  • Step 3: Preview details and click Submit to register biller and invest

Important:
Make your first NPS contribution within 45 days of PRAN generation to avoid account freeze

FAQs

Who Can Register for NPS?

Eligible Individuals:

  • Indian citizens (residents, NRIs, OCIs) aged 18 to 70 years
  • Must complete KYC verification
  • Categories:
  • Individual Subscribers: Can open Tier I (mandatory) and Tier II (optional) accounts.

Government Subscribers: Central/state government employees automatically covered under NPS.

Who Should Invest in NPS?

Ideal for:

  • Salaried individuals aiming for tax-saving under Section 80C
  • Self-employed professionals planning long-term retirement
  • Anyone seeking low-cost, steady retirement returns 

NPS Account Types & Contributions
Feature Tier I Account Tier II Account
Nature  Mandatory pension account Optional savings account
Minimum Contribution ₹500 (initial); ₹6000 yearly  ₹1000 (initial); ₹250 per top-up
Withdrawal Restricted, as per exit rules Flexible anytime 
Tax Benefits Yes (Section 80C, 80CCD(1B), 80CCD(2)) No

Key Features and Benefits

Regulated & Transparent: Managed by PFRDA and NPS Trust

Voluntary & Flexible: Open to all eligible Indian citizens with flexible contributions

Low Cost: One of the lowest charges among retirement products

Portable: PRAN remains the same despite job/location change 

Customisable Investments: Choose your own fund manager and asset mix

Tax-efficient: Triple tax benefits under Sections 80C, 80CCD(1B), and 80CCD(2)

NPS Investment Options

Active Choice:

  • Choose asset allocation across Equity (E), Corporate Bonds (C), Govt. Securities (G), and Alternate Assets (A)
  • Suitable for market-savvy investors
  • Auto Choice (Life Cycle Fund): 
  • Asset mix adjusts with age
  • Options: LC75 (aggressive), LC50 (moderate), LC25 (conservative)
  • Best for passive investors

 

How to Open an NPS Account with ICICI Bank

Via iMobile App:

  • Login to iMobile > Invest > NPS
  • Enter personal, nominee & investment details
  • Upload photo & signature
  • Confirm and submit

Via Net Banking:

  • Login to ICICI Net Banking > Investments & Insurance > NPS
  • Fill required details 
  • Upload documents, confirm and submit


Note: First contribution must be made within 45 days of PRAN generation to avoid account freeze.

Eligibility to Open an NPS Account

Indian citizen (resident/NRI/OCI)

Age: 18–70 years

KYC-compliant with valid documents

Not available for HUFs and PIOs 

Tax Benefits under NPS

For Salaried Individuals:

  • Section 80CCD(1): Up to 10% of salary (within ₹1.5 lakh under 80C)
  • Section 80CCD(1B): Extra ₹50,000 deduction
  • Section 80CCD(2): Employer contribution up to 10% of salary (over 80C limit) 

For Self-Employed:

Claim 20% of gross income under 80CCD(1), and ₹50,000 under 80CCD(1B)

Additional Perks:

  • Up to 60% withdrawal at retirement is tax-free 
  • Partial withdrawals are allowed for emergencies

Corporate NPS Model

Benefits for Employers:

  • Tax-free contributions under Section 80CCD(2)
  • Cost-effective and easy to set up
  • Benefits for Employees: 
  • Tax savings up to ₹2 lakh annually
  • Personalised investment options

Key Entities Involved in NPS

PFRDA: Regulatory authority

NPS Trust: Fund monitoring and audits

CRAs (KFinTech, NSDL): Maintain subscriber records

ICICI Bank (POP): Handles registration, contributions & withdrawals 

Exit and Withdrawal Rules
Scenario Withdrawal Rule
At 60 Years 40% for annuity, 60% lump sum (100% withdrawal if corpus < ₹5 lakh) 
Before 60 Years 80% for annuity, 20% lump sum (100% if corpus < ₹2.5 lakh)
Death Nominee can withdraw 100% or continue NPS after KYC 

Logging In to Your NPS Account

Steps:

  • Visit:NSDL NPS Portal
  • Click "Login with PRAN/IPIN"
  • Enter PRAN & password 
  • For First-Time Login:
  • Reset password > Enter details > OTP verification > Login

NPS Charges
Service Charges (approx.)
PRAN Card ₹40 (physical), ₹18 (ePRAN) 
Annual Maintenance ₹65–₹69 (varies by CRA)
Transaction Charges ₹3.36–₹3.75 (varies by CRA) 
Exit/Withdrawal 0.125% of corpus (Min ₹125, Max ₹500)
Persistency Fees ₹50–₹100/year (based on contribution level) 
Payment Gateway Charges Credit Cards: 0.75% + GST, UPI/Net Banking: Free

What is the All Citizen Model?

The All Citizen Model allows any Indian citizen (resident/NRI/OCI) aged 18–70 years to voluntarily subscribe to the NPS by completing KYC.

What is the Corporate Model?

For salaried employees where both employer and employee contribute to the NPS account. Offers customisable contributions, tax benefits, and long-term savings options.

Is NPS a Good Investment?

Yes. It offers market-linked returns, low charges, flexibility, and significant tax savings, making it a reliable long-term retirement investment option.

Disclaimer

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