National Pension System - Yono

NPS account opening

Embark on a secure and tax-efficient journey towards your retirement savings with the National Pension System (NPS).

Features:

• Exclusive tax benefits for investments up to Rs. 50,000/- under section 80CCD(1B)
• The scheme is regulated by the Pension Fund Regulatory and Development Authority (PFRDA) and undergoes regular monitoring and performance review.
• NPS offers a flexible range of investment into 2 accounts:
  • Tier I (pension account) with 2 options (Active choice and Auto choice) and
  • Tier II (investment account) with 2 options (Active choice and Auto choice).
• In active choice, the allocation of funds is as selected by the subscriber.
• In auto choice, subscribers are completely assisted in asset allocation decisions.

Eligibility:

• Any resident citizen of India aged between 18 and 70 years at the time of application
• Subscriber should comply with the prescribed Know Your Customer (KYC) norms.
• Possession of a valid PAN card is mandatory for account opening.

How to apply?

• Log in to your YONO SBI app.
• Navigate to the "Investments" section.
• Under "NPS Account Opening" heading, tap on "Open a/c all citizens"
• Follow the on-screen instructions to fill in your details and complete the KYC process.
• Choose your preferred Tier I and/or Tier II account and investment option.
• Make the initial contribution online.