Regular post-retirement income | Additional tax benefit on investments up to ₹50,000 u/s 80CCD (1B) - EEE Category | Regulated by PFRDA (Pension fund regulator under Ministry of Finance, Govt. of India) invest now

Planning for your retirement is key, and there are many ways to go about it. Today, there are numerous schemes that cater to your retirement needs, including the National Pension System, also known as NPS.

 

NPS is a government-offered scheme regulated by the PFRDA and offers market-linked returns. Investing in NPS is available through various modes, including banks which are known as the Points of Presence (PoPs). 

 

Among the many PoPs is HDFC, a leading bank offering a seamless investment process. Through the HDFC Pension Fund, you get access to various funds as per your preference and risk tolerance. Additionally, you can invest via HDFC in NPS through an online or offline process.

 

To learn how you can invest in NPS via HDFC Bank, the features on offer, charges applicable, and more, read on.

How to Invest in NPS via HDFC

Fintech advancements have made it easier for investment options to be offered online. As such, you now see more and more simplified, easier, and quicker digital options to invest in. Among these is the option to invest in NPS. 

 

You can visit the official website of HDFC Bank for NPS account opening and follow the steps mentioned below:

  • Online

  1. Navigate to the NPS section on the HDFC website

  2. Click on ‘Apply Now’

  3. Fill out the application form

  4. Complete the KYC verification

  5. Make the initial contribution

  6. eSign your registration within the stipulated time

Once you complete the registration, be sure to note the application ID to track the status of your registration. You need to save your PRAN as it will help make future payments easy. For future contributions, simply complete the HDFC NPS login process on the website and proceed.

  • Offline

While the online HDFC NPS account opening process is convenient and quick, you can also do it offline. Here, you need to visit the bank branch of your choice and ask for the registration form. Fill out this form and submit it at the branch.

 

Note the acknowledgement ID to track the status of your application. You also need to keep in mind that you would need to make the initial contribution to your NPS account at the time of registration. 

 

Remember to review the available schemes before you begin the processing of investing via HDFC in an NPS account. Choosing the HDFC pension scheme you want to invest in allows you to have a seamless investment process. It also helps ensure that you make a well-thought decision that prioritises your current and future financial well-being.

Charges Associated with HDFC NPS Investment

To make investments accessible and convenient, banks and other financial institutions offering these services levy a nominal fee for it. As such, before you invest via HDFC in NPS, knowing these charges is crucial. 

 

This may vary for each bank, and having an idea can help you make informed investment decisions. Here is an overview of the charges applicable to an investment in NPS via HDFC Bank:

Service charged 

Charges to be paid by the investor

Initial subscriber/ registration

₹400

Financial transaction

0.50% or ₹30, whichever is higher. Max. ₹25,000

Non-financial transaction

₹30

Persistency charge

₹50 - ₹100, depending on annual contributions

Disclaimer: The above charges are subject to change at the bank’s discretion.

Features and Benefits of Investing in NPS

Here are the top features and benefits you can enjoy by investing in NPS:

 

  • Nominal minimum contribution (monthly/annual)

  • Annuity purchase to have stable income during retirement

  • Portable investments to secure financial growth even during job or location change

  • Withdrawal before maturity to meet any emergency requirements

  • Market-linked returns to have better financial growth in the long run

Eligibility and Documents for NPS Investment

Given below are the eligibility and documents requirements to invest in NPS via HDFC Bank:

  • Eligibility

  1. Aged between 18-70 years

  2. Indian citizen (resident or non-resident)

  3. KYC compliant

  • Documents

  1. Proof of residence

  2. Proof of identity

  3. Proof of age

 

Now that you know how to invest in the National Pension Scheme via HDFC Bank, be sure to invest as per the requirements and your finances. Choose between Tier I and Tier II as per your requirements to ensure that you get the desired returns.

 

You can use the NPS calculator to invest an amount that will offer returns in alignment with your goals. This way, you ensure that you maximise your earnings and can enjoy a comfortable retirement.

FAQs on Investing in NPS Through HDFC

Which bank is good for investing in NPS?

You can invest in NPS through various modes, including leading banks. Among these banks is HDFC. NPS investment via HDFC Bank is available both online and offline, giving you an easy and simple investment process.

Can you invest in NPS through any HDFC Bank branch?

Yes, you can open an NPS account in HDFC Bank through any branch of your preference. 

How can I invest in NPS through HDFC Bank?

You can complete the process of NPS account opening via HDFC Bank website or branch. Be sure to assess the charges associated with it to get a holistic view of your investment costs and invest accordingly.

Is NPS investment available for NRIs?

Yes, NRIs can invest in NPS like regular citizens, provided that they meet the requirements and have the necessary accounts (NRE/NRO) to invest. Like resident citizens, NRIs can also invest in NPS in HDFC Bank upon fulfilling the necessary requirements.

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