![What is NPS?](https://news.google.com/img/2021/04/national-pension-system-1619521883.jpg)
Table of Contents
What’s NPS?
The Nationwide Pension System (NPS) is a voluntary, outlined retirement financial savings plan that enables subscribers to plan for his or her future by financial savings all through their working lives. The NPS goals to develop a behavior of saving for retirement in each citizen.
![Eligibility criteria](https://news.google.com/img/2022/10/image-1649068199-1666342033.jpg)
Eligibility standards
- The applicant must be above 18 and under 70 years of age.
- You need to be an Indian resident. NRIs, PIOs, OCIs, and others usually are not permitted to open an SBI NPS account.
- You may also be coated by different pension schemes. A minimal funding of Rs.500 is required to open a Tier I Account and Rs.1000 is required to open a Tier II Account.
![How to open an nps account using onlinesbi?](https://news.google.com/img/2018/02/sbi-1518665988.jpg)
How one can open an nps account utilizing onlinesbi?
- Login to www.onlinesbi.com
- Choose ‘NPS contributions’ below the ‘Funds and Transfers’ tab on the homepage of their internet banking account.
- To make a web-based contribution to the NPS scheme, first choose a beneficiary. The contribution can be deducted from the client’s financial savings account and credited to the NPS account.
- After you open an NPS account with SBI, your funding will proceed till you attain the age of 60.
![How to open an nps account using the sbi yono app?](https://news.google.com/img/2017/11/yono-24-1511505034.jpg)
How one can open an nps account utilizing the sbi yono app?
Step 1: Open the SBI YONO app in your smartphone and navigate to the ‘Investments’ part.
Step 2: Subsequent, click on on ‘NPS Account Opening,’ verify the field, after which click on on the ‘I Agree’ tab.
Step 3: Select both Tier I or Tier I/Tier II.
Step 4: Test the field stating that I shouldn’t have any pre-existing NPS accounts.
Step 5: Enter your info, reminiscent of your date of delivery and PAN quantity, after which click on the Subsequent tab.
Step 6: Add the required paperwork
Step 7: Enter the knowledge that can be printed in PRAN and click on Subsequent.