An NPS Scheme is basically a social security account which is initiated by the Government of India as a voluntary retirement scheme and its main aim is to provide regular streams of income over a long period to all the subscribers. Here, we will provide a step-by-step process on How to Open NPS Account with Aadhaar Card.
How to Open NPS Account with Aadhaar Card?
In order to open NPS Account, one has to fill the Permanent Retirement Account Number (PRAN) application form. Later one has to submit PRAN Application form and KYC documents to the Point of Presence Service Provider. From this, it is clear that the process is too large, as the account holder has to visit the bank, then PRAN number will be generated and it will consume a lot of time.
Apart from this, if you apply for NPS Account online, then you have to take a printout, affix a passport size photograph, place your signature and mail it to the CRN within 90 days of being issued the PRAN.
In order to speed up the process and to easily open NPS Account, a notice stating that these Accounts can be opened online without even visiting the bank branch was released by PFRDA (Pension Fund Regulatory and Development Authority). As per the notice, an individual can open NPS Account online and verification of the authority can be done using an Applicant’s e-signature.
This process will make the process simple and also ensures that the information stored in the database is correct because Individual has to verify details using Digital Signature.
Step-by-Step process to Open NPS Account with Aadhaar Card
- All the Individuals who have a demat account and an account in an authorised bank, can simply visit the bank’s website and open an Account.
- You can also visit the eNPS Official Portal and then click on registration tab to subscribe to NPS Portal.
- Now, you have to enter Aadhaar Card Number and then registered number in the required field.
- After this, you have to enter various requested details in the Application form, such as your name, account number, contact information, etc.
- After entering all the details you have to cross check all the entered details and then select an investment plan.
- When you have selected investment plan, then you have to upload a scanned copy of the signature as per the signature in Aadhaar Card.
- The photograph will be taken directly uploaded according to your Aadhaar Card.
- As soon as you have uploaded your photograph and signature, another OTP will be sent to the registered mobile number for verification purposes. Now, Enter the OTP to approve your signature.
- Now, you have to pay a primary amount to the account via Debit/ Credit card or Net Banking.
- When you have completed all the steps, an instant PRAN will be given to you and PRAN scheme subscribing letter will be dispatched to your registered address.
How to Open NPS Account Offline?
Follow the simple steps given below:
- Visit the authorized bank branch, fill the application form and submit it.
- All the candidates with eKYC, the PoP will send the Application form along with all the supporting documents to CRA.
- All the Candidates who don’t have eKYC will have to submit a hard copy of KYC documents while filling the NPS account application form.
- In both the above cases, Point of Service Provider will generate an e-signature also known as e-sign which will cost Rs 5.
- After eSign is generated, PoP will send the essential documents to the CRA and the subscriber will receive PRAN Number shortly.
Why should you have an NPS Scheme?
When you invest in any of the NPS Scheme, you will get PRAN (Permanent Retirement Account Number) through CRA (Central Record Keeping Agency). Apart from this, you will also get username and password. By these details, you can perform online transactions. NPS Investment scheme provides the some of the easiest investment plans for seniors and also allows to do translations with less hustle.
Here, we have provided all the details about How to Open NPS Account with Aadhaar Card. Also, we have provided a process to open NPS Account Offline and why should you have an NPS Scheme. If you found this information helpful, then please share it with your friends and followers.