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National Pension Scheme
Secure your future by investing in NPS
Key Features
A Simple Step towards a Secure Tomorrow!
Smart. Secure & Future-ready. NPS works quietly in the background, for a tomorrow that feels effortless.
Other Benefits
Eligibility
- Age Between 18-70 years
- Citizens of India, including NRI’s & OCI card holders
- Any salaried or individual person can open NPS account
| All Citizen Model | Tier-I Mandatory | Tier-II Optional |
|---|---|---|
| Tax Benefits | Yes | Optional |
| Withdrawals | Restricted | Anytime |
| Minimum Contribution at the time of account opening | ₹500 | Anytime |
| Minimum amount per contribution | ₹500 | ₹1000 |
| Minimum total contribution in the Year | ₹1000 | ₹250 |
All Citizen Model:
In an Individual NPS account, the subscriber/customer is the only contributor. All selections pertaining to Scheme preference, Investment choice, Annuity Service Provider, etc. are done by the subscriber/customer alone.
Corporate Model:
Pension Fund Regulatory and Development Authority of India (PFRDA) offers ‘Corporate NPS’ model to enable corporates to offer NPS investment benefit to all employees. The employees will come under NPS within the purview employer – employee relationship. Corporates may join NPS through any of our existing branches.
Advantages to employer/employees
- No Charges for offering NPS to employees
- NPS can also be offered as a voluntary scheme to employees
- NPS account holders can transfer their Superannuation funds to their NPS account without any tax implication
- Investment up to 10% of Salary (Basic + Dearness Allowance) routed through the Employer, is deductible from taxable income u/s 80CCD (2) of Income Tax Act, 1961 which is over and above Rs. 1.5 lakhs limit of section 80C under Old Tax Regime
- Additionally, investment up to Rs.50,000 is deductible from taxable income u/s 80CCD (1B) of Income Tax Act, 1961 under Old Tax Regime
- Employees opting for New Tax regime, can choose up to 14% of Salary (Basic + Dearness Allowance) routed through the Employer, is deductible from taxable income u/s 80CCD (2)
- Maximum limit of amount that can be claimed tax exempt is Rs. 7.5 lakh of employer contribution towards, NPS, PF and Superannuation all together. (Only available for Corporate NPS accounts).
- For further enquires email to nps@svcbank.com
| Particulars | Amount (GST as applicable) |
|---|---|
| One time account opening – | ₹200 |
| Contribution Charges (per transaction) | ₹30 |
Disclaimer & Grievances
- The National Pension System (NPS) is launched and regulated by the Pension Fund Regulatory and Development Authority (PFRDA), a statutory body under the Government of India. SVC Bank acts solely as a Point of Presence (PoP) registered with PFRDA, and facilitates the processing of NPS-related services. NPS is not a product, offering, recommendation, advice, or solicitation by SVC Bank. The NPS corpus may be invested in market-linked instruments as per PFRDA guidelines. These carry market and other associated risks. SVC Bank does not guarantee returns and is not liable for any loss or changes in fund value or NAV. Scheme selection, asset allocation, and fund manager choice are entirely at the discretion of the customer. SVC Bank does not recommend or advise on these. Contribution payments may be subject to PoP service charges and applicable taxes, reducing the actual amount invested. Applications from already registered NPS subscribers may be rejected. Investors are advised to visit pfrda.org.in for details on risks, CRA charges, and other important considerations before investing. Past performance is not indicative of future results.
- Refer the SVC Bank's Grievance Redressal Mechanism: Click Here
- You can also reach out to PFRDA's Office of Ombudsman
- The Office of Ombudsman - Pension Fund Regulatory and Development Authority, Tower E, 5th Floor, E-500,World Trade Center, Nauroji Nagar, New Delhi – 110029
- Phone No: 011 - 4071 7900
- Email Id: obudsman@pfrda.org.in
