The national pension system (NPS) is a defined contribution retirement plan. The primary objective is enabling systematic savings during the working life of the subscribers. The aim is to provide retirees with an option to achieve financial stability during their golden years.

The person (employee/citizen) who joins the NPS will be known as ‘Subscriber’ in the NPS.

Under the NPS, each subscriber will open an account with Central Recordkeeping Agency (CRA) which will be identified through unique Permanent Retirement Account Number (PRAN).

Benefits :

Get upto 50,000* of Tax Benefits per year
Get an NMC (Non Maintenance Charges) waived savings account with an NPS account by investing minimum 2000# per month
Asset allocation flexibility across equity, corporate bonds, and government securities
Promoted & regulated by Government of India

Eligible Person
ny citizen of India in the age group of 18-60 years (as on the date of submission of NPS application to Kotak Mahindra Bank branch) can join NPS.

OCI (Overseas Citizens of India) and PIO (Person of Indian Origin) card holders and HUFs are not eligible

For more Details you may Contact to the Nrarest branch of the Kotak Mahindra Bank