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iob_bank_nps_national_pension_system

Last Updated:08/02/2026
NPS National Pension System
   

Eligibility

All citizen aged between 18-70 can open the account.

However, till age of 75, we can stay invested in NPS.

Features of the Scheme

Individual can open Tier I and Tier II account under NPS.

Tier I account is mandatory and Tier II is optional.

Withdrawal Facility

Partial withdrawal permitted after 3 years in NPS.

Subscriber is free to withdraw their savings from Tier II account alone, without any restriction.

On superannuation, maximum 60% withdrawal permitted. 40% to be contributed for annuity.

If the amount of investment is less than Rs.5 lacs, full amount can be withdrawn.

Tax Benefits

Tax benefit up to Rs.150000/- u/s 80C and additional Tax benefit up to Rs. 50,000/- u/s 80CCD(1B) for Tier 1 investments.

Other Features

Customer has the choice to Fund allocation and returns are based on Market performance.

Choice of multiple pension fund managers and Investment Choice is also available.

 

PoP (Point of Presence) Registration Number: 52092018

Charge Structure under NPS:

     
Service Service Charges Method of Deduction

Subscriber registration

Rs. 350/-

Will be collected upfront by system.

Initial Contribution

0.50% of the contribution subject to maximum of Rs. 25,000/-

All Subsequent Contribution

All Non-financial transactions

Rs. 30/-

Will be collected upfront

Persistency#

Rs. 50/- p.a. for annual contribution

Rs. 1000/ to Rs. 2999/-

Rs. 75/- p.a. for annual contribution

Rs. 3000/ to Rs. 6000/-

Rs. 100/- p.a. for annual contribution above Rs. 6000/-

(Only for NPS All Citizen model)

Through cancellation of units

e-NPS(for subsequent contribution)

0.20% of the contribution subject to maximum Rs. 10,000/-

(Only for NPS all citizen and Tier II accounts)

Will be collected upfront.

Trail commission for D-remit* contributions

0.20% of the contribution subject to maximum of Rs. 10,000/-

(Only for NPS all citizen and Tier II accounts)

Through unit deduction on periodical basis.

Processing of Exit/Withdrawal

0.125% of corpus subject to Max Rs. 500/-

Will be collected upfront.

1. *D-remit is an electronic system through which money can be directly transferred from customer bank account to the NPS trustee bank to avail same day Net Asset Value (NAV).

2. #Persistency charges is payable to PoPs to which the subscriber is associated for more than six months in a financial year.

3. Minimum contribution per transaction is Rs. 500/- and minimum annual contribution is Rs. 1000/-

4. GST or other taxes as applicable, shall be additional.

Charge Structure under NPS-Lite/ Swavalamban:

   
Charges under NPS-Lite/Swavalamban w.e.f 01.04.2017 Method of levying Charges

The charges for any subsequent transaction under NPSLite/Swavalamban @ 0.25% of the total contribution deposited by the subscriber in NPS-Lite/Swavalamban in a financial year subject to a minimum of Rs. 20/-

Through unit deduction by the CRA at the end of the Financial Year.

Any other transaction not involving a contribution from subscriber @ Rs. 10/- per transaction

The aggregators are not permitted to collect any charge upfront from the NPS Lite/Swavalamban subscriber.