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Kotak National Pension Scheme (NPS) Account Opening

Organisation : Kotak
Facility Name : National Pension Scheme (NPS)
Applicable For : A citizen of India including NRI & OCI
Applicable State/UT : All India
Website : https://www.kotak.com/en/personal-banking/investments/national-pension-system/about-nps.html

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Contents : hide
1 What is Kotak National Pension Scheme (NPS)?
2 Who Can Join In NPS?
3 How To Apply For Kotak National Pension Scheme (NPS)?

What is Kotak National Pension Scheme (NPS)?

National Pension System (NPS) is an investment cum pension scheme initiated by Government of India to provide old age security and pension of all citizen of India. The NPS was rolled out for all citizens of India on May 01, 2009. The Scheme is regulated by Pension Fund Regulatory and Development Authority (PFRDA).

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Who Can Join In NPS?

** A citizen of India including NRI & OCI can apply for Kotak National Pension Scheme (NPS)
** Age between 18 years and 70 years at the time of submission of application
** Complied with KYC (Know Your Customers) norms
** As per NPS rules, PIO card holders are not eligible

PRA gives access to two types of NPS accounts to Subscribers :
Tier I Account: This is known as pension account and is mandatory to open.Tax benefit on Investment amount is available only in this Account

Tier II Account: Opening of this account is optional for investment purpose. The subscriber has the flexibility to can withdraw from this account as per their requirements

How To Apply For Kotak National Pension Scheme (NPS)?

Subscribers can apply for Kotak National Pension Scheme (NPS) through the below mentioned routes:

Online Mode : Subscribers can apply for NPS account online
Offline Mode : Subscriber desirous to join NPS can visit nearest Kotak Mahindra Branch and submit the following documents.

Apply Here : https://mynps.nsdl.com/myNPS/NationalPensionSystem.html?appType=main&authId=UzZRTlkxeVNqejRXMHFTVnU3VHoxUT09

KYC Documents as per PFRDA norms:

ID Proof Address Proof
  • PAN card
  • Aadhaar card / letter issued by Unique Identification Authority of India,
  • Voter ID card
  • Passport
  • Bank passbook with photograph
  • Valid driving license with photograph
  • Ration card with photograph
  • Certificate of the POP bank for an existing Bank customer
  •  Certificate of Identity with photograph signed by a Member of Parliament or Member of Legislative Assembly
  •  Job cards issued by NREGA duly signed by officer of State Government
  • Identity card issued by Central/State government and its Departments, statuary/ Regulatory Authorities, Public Sector Undertakings, Scheduled commercial Banks, Public Financial Institutions, Colleges affiliated to universities and Professional Bodies such as ICAI, ICWAI, ICSI, Bar Council etc, Photo Identity Card issued by Defence, Paramilitary and Police departments, Ex-Service Man Card issued by Ministry of Defence to their employees, Photo Credit card.
  • Voter ID card
  • Aadhaar card
  • Bank statement (minimum 1 month old)
  • Ration card with photograph & residential address
  • Bank Pass book or certificate with photograph and residential address
  • Certificate of the POP bank for an existing Bank customer
  • Valid Driving license with photograph and residential address
  •  Letter from any recognized public authority at the level of Gazetted officer like District Magistrate, Divisional commissioner, BDO, Tehsildar, Mandal Revenue Officer, Judicial Magistrate etc
  • Certificate of address with photograph signed by a Member of Parliament or Member of Legislative Assembly
  • Job cards issued by NREGA duly signed by an officer of the State Government
  • The identity card/document with address, issued by any of the following: Central/State Government and its Departments, Statuary/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, Public Financial Institutions for their employees
  • Latest Electricity/water bill in the name of the Subscriber showing the address (less than 3 months old)
  • Latest Telephone bill in the name of the Subscriber showing the address (less than 3 months old)
  •  Latest Property/house Tax receipt (not more than one year old).

Initial Contribution Amount:
** Rs. 500 if opted only for Tier I account
** Rs. 1500 if opted for both Tier I and Tier II accounts

Note:
** The Cheque should be in favour of “Kotak Mahindra Bank Collection Account – NPS Trust”
** Cancelled cheque is mandatory for opening Tier-II A/C.
** Aadhar and PAN numbers are compulsory and need to be declared


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