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National Pension Scheme by Muthoot Finance
The National Pension Scheme (NPS) has been rolled out for both Resident and Non-Resident citizens of India. Muthoot Finance is a registered entity authorized by PFRDA to undertake all activities as Points of Presence (POPs) under Registration Number 5000262. With this registration, we can enroll and collect money for remittance to NPS corporate, resident and NRI individuals.
Salient Features of the Scheme:
It is a voluntary contribution scheme.
It has a facility available for savings and investment so that finances for one’s retirement are taken care of.
The contributions of all account holders are collated and invested by fund managers of the Pension Fund Regulatory and Development Authority (PFRDA).
The NRI investor has two options:-
a. Active Choice: The NRI decides the asset classes that the money should be invested in and the allocation percentage in each investment type.
b. Auto Choice:Investment is done on behalf of the NRI based on his age.
Under the Scheme, there are two sub-accounts available:-
a. Tier – I accounts: Withdrawals are allowed for up to 25% of the account holder’s contribution. There are some rules around withdrawal and exit options.
b. Tier-II accounts: These are like savings accounts. The NRI can withdraw whenever he/she wants from these accounts.
For more details contact the nearest branch
or call Customer Care: 9946901212
FAQs
Muthoot Finance, as a registered Point of Presence (POP), has a vast network of branches across India, making it convenient for investors to open and manage their NPS accounts. Additionally, the whole process of opting for the NPS scheme and managing it afterwards is very streamlined and hassle-free with Muthoot Finance.
There are two main types of NPS accounts available at Muthoot Finance: Tier I and Tier II. Tier I accounts allow withdrawals for up to 25% of the account holder’s contribution and there also are some rules around withdrawal and exit options. On the other hand, Tier II accounts are like savings accounts, allowing whenever the account holder wants it.
To join the National Pension Scheme (NPS) through Muthoot Finance, the age requirements are as follows:
- Minimum Age: 18 years
- Maximum Age: 60 years
This means that individuals who are at least 18 years old and not older than 60 years old can enrol in the NPS offered by Muthoot Finance.
To check the status of your National Pension Scheme (NPS) account with Muthoot Finance, you can log in to your NPS account through the "My NPS" portal, where you can manage your contributions and check your account status directly. In case of any query or help, you can contact our customer care service or visit your nearest branch.
- South +91 99469 01212
- North 1800 313 1212