How to open an NPS account with FundsIndia?

How to open an NPS Account using FundsIndia?

FundsIndia is glad to announce its association with IL&FS Securities Services Limited (ISSL), a leading financial service provider of repute in the Indian Capital Market, to facilitate opening of New Pension Account (NPS)

New Pension Scheme (NPS) is a defined contribution based pension system launched by Government of India with effect from May 01, 2009 on a voluntary basis to all citizens of India. It is one of the significant social security measure introduced by the Government of India.

ISSL has been appointed as a Point of Presence (POP) to act as the customer interface for non-government subscribers / individual citizens who wish to open Permanent Retirement Account (PRA) with Central Record Keeping Agency (CRA) for the purpose of subscribing to the NPS.

How can I apply for an NPS Account in FundsIndia?

To apply for a new NPS account, please login to your FundsIndiaaccount, and click on NPS. From the next screen, you can choose from these three options:

• Open a Tier-I account only
  
• Open a Tier-I and Tier-II account
  
• Open a Tier-II account (only for current Tier-I account holders)
  

In the next screens, please fill the details for opening the accounts.

After you are done, your pre-filled NPS form will be available for you in the 'Downloads' section of your account. Along with it, there is a clear, detailed checklist of documents to send along with your NPS form. Please follow the instructions carefully - they are few and simple.

Please send us the application form with these documents:

• Two copies of pan card - both self-attested
  
• Two copies of address proof - both self-attested
  
• The cheque for the opening investment written in the name of "ISSL collection account - NPS Trust"
  
• An additional cancelled cheque if opening a Tier-II account

There is a detailed check list document that will be available with your application form that will explain all that needs to be sent along for your account opening.

Please send it to our offices in Chennai

 

Can I avail of ECS facility for making NPS investments?

Yes, while opening the NPS account, you can choose to make your further investments using ECS. We will send you a pre-filled ECS form along with your application form.

Please note that the ECS form requires an authorization from your bank offcials (at the account's bank branch).

Also, each ECS contribution will be levied a Rs. 4 as service charge.