NPS Account: The SBI Yono app now allows you to establish an account in the National Pension System. Learn the whole procedure here

 NPS Account: The SBI Yono app now allows you to establish an account in the National Pension System. Learn the whole procedure here

Through the SBI YONO app, an NPS account may be created. By taking a few simple actions, you can simplify your job. To create an NPS account using the SBI YONO app, follow these steps:

The Government of India's National Pension Scheme (NPS) allows you to plan for financial assistance in old age. This program was launched on January 1st, 2004. The unique feature of this system is that individuals employed in the private sector are also eligible to register an account. You can establish an NPS account right now without having to visit the post office if you haven't already. With the SBI Yono app, establishing an NPS account is simple and can be done while at home. Understand how?

Take these actions:

Step 1: Open the SBI YONO app on your smartphone first.

Step 2: Next, you choose the Investment option.

Step 3: Select the section for creating an NPS account.

Step 4: Select the NPS registration option after clicking on the E-Services option.

Step 5: In addition, you have the opportunity to choose an SBI branch that is close to your house.

Step 6: In this step, you must fill out the registration form with all required information, including your name, address, Aadhaar number, PAN number, and so on, and submit it.

Step7: Your NPS account will then be opened.

The advantages of NPS investment

Investing in Non-Professional Superfunds (NPS) offers a deduction under section 80C, with a cap of Rs 1.5 lakh.

One of the most affordable pension plans in the world is NPS. Long-term advantages of compounding are realized. As a result, a sizable corpus is set up for your future. You may invest at least Rs 500 in this.

The National Pension System is classified as "EEE." There are tax advantages for investments. Both the maturity amount and the returns are fully tax-free.

NPS: Investible Parties

Central Workers State Workers Private Sector Workers Common Citizens