​National Pension System (formerly known as National Pension Scheme) is an investment cum pension scheme initiated by Government of India to provide old age security and pension to all citizens of India. It is an investment tool that provides market –based returns. Since it offers exposure to both debt and equity instruments, NPS offers attractive returns over the long term. Other advantages of NPS include additional tax benefits and the option to invest, check scheme details and transfer funds online. Equitas Small Finance Bank has been appointed by PFRDA to act as one of the Points of Presence – Sub Entity (POP - SE) for NPS.




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A citizen of India can join the NPS subject to following conditions*:
  • Subscriber should be between 18 – 70 years of age as on the date of submission of her application.
  • Subscriber should comply with the prescribed Know Your Customer (KYC) norms as detailed in the Subscriber Registration Form for NPS

* The above link is not available for Non-Resident Indians right now.

Two types of NPS Accounts available to Subscriber

Tier I Account

  • Tier-I account is mandatory for opening NPS account.
  • This is a restricted account and withdrawals are subject to meeting certain terms and conditions prescribed under NPS.
  • Tax Benefits are associated with this account.

Tier II Account

  • This is a voluntary savings facility available as an add-on to any Tier-1 account holder.
  • Subscribers are free to withdraw their savings from this account.
  • There are no tax benefits associated with the Tier-II account.


For All Citizen Model Tier-I Tier-II
Minimum Contribution at the time of account opening Rs. 500 Rs. 1000
Minimum amount per contribution Rs. 500 Rs.250
Minimum total contribution in the Year Rs. 1000 -
Minimum frequency of contributions 1 per year -
Investment Choices
NPS offers two investment approaches
  • Active Choice - A subscriber can actively decide as to how the funds are to be invested across asset classes and their percentages. Asset class Equity (E), Corporate Bonds (C) & Govt. Securities (G).
  • Auto Choice - Subscriber has the choice of three life-cycle funds i.e. Aggressive Life cycle fund, (LC-75), Moderate Life cycle Fund (LC-50) and Conservative Life cycle Fund(LC-25). Investment is made from a life-cycle approach. Allocation is progressively decreased in Equity & increased in Bonds & Govt Securities.
How are the funds managed under NPS?

The funds contributed by subscribers are managed by PFRDA registered Pension Funds. At present, a subscriber has the option to select any one of the following seven pension funds:


  • HDFC Pension Management Company Ltd
  • ICICI Prudential Pension Fund
  • LIC Pension Fund Ltd
  • Kotak Mahindra Pension Fund
  • SBI Pension Fund
  • UTI Retirement Solutions Pension Fund
  • Aditya Birla Sunlife Pension Management Limited


Fees & Disclaimer
Intermediary Charge Head Service Charge** Frequency of deduction Mode of deduction
POP (Service Provider) Customer Registration Rs. 400 One time Deducted upfront from the contribution amount
Contribution Processing* 0.50% On each transaction
Non – Financial Transaction Processing Rs. 30
CRA (KARVY) PRAN Opening Charges Rs. 39.36 One time From NPS Account (by cancelling the units) on the last day of the calendar quarter
Annual PRAN Maintenance cost per account Rs. 57.63 Per Annum
Transaction Processing( Financial & Non-Financial) Rs. 3.96 On each transaction
NPS Account  Maintenance    Rs. 95     Per annum
Transaction Processing( Financial & Non-Financial)     Rs. 3.75     On each transaction
Fund Manager    Investment Management     0.01% annum     Through adjustment in NAV


*Minimum Rs.30 and Maximum Rs.25,000 per contribution
** For more details visit GST as applicable.
NPS is launched & regulated by PFRDA - A GOI regulatory body . NPS is not a product/offering/recommendation / advise / solicitation by Equitas Small Finance Bank. Equitas Small Finance Bank acts only as a Point of Presence – Sub Entity registered with PFRDA to facilitate processing of NPS related services. NPS corpus may be invested in market related instruments as per guidelines of PFRDA . These instruments may carry market related and other risks and Equitas Small Finance Bank shall not be responsible for any losses/changes in fund value or NAV of the amount invested. Equitas Small Finance Bank doesn’t guarantee any returns. Equitas Small Finance Bank makes available NPS related services and doesn’t recommend choice of any scheme, allocation or fund manager, this being solely at customer discretion. Contribution payments are subject to PoP Service charges & applicable taxes, thus actual amount invested will be net of charges & taxes. Any application made by subscriber already registered is liable to be rejected. Third party payments are not allowed in Tier II contributions. Kindly refer to understand risks, CRA charges and other factors before investing. Past Performance May or May Not Be Sustained In The Future
NPS Calculator 
Your Age:
My Monthly NPS contribution:
My Expected Annual Rate of Return:
I would like to purchase Annuity for:
My Expected Annuity Rate:

Your Pension Account Summary at Retirement

Your Total Corpus at Retirement


Your Total Contribution


Withdrawal Amount at Retirement


Annuity Value


Your Expected Monthly Pension


Disclaimer: The above calculation and illustration of figures are indicative only and not on actual basis.