Can I open NPS account through Yono SBI?

National Pension Scheme (NPS) is a scheme of the Government of India through which you can arrange financial support for your old age. This scheme was started on 1 January 2004.

The special thing is that people working in private sector can also open an account in this scheme. If you have not opened an NPS account yet and want to open it now, then you do not need to go to the post office. You can easily open an NPS account on SBI Yono app while sitting at home. Know how?

Follow these steps:

• First of all open SBI YONO app in mobile.
• Steps 2. After this you go to Investment option.
• Click on NPS Account Opening section.
• Click on E-Services option and select the option of NPS registration.
• Apart from this, you can also choose the option of SBI branch near your home.
•  Here you will have to fill all the necessary information on the registration form like name, address, Aadhaar number, PAN number etc. and submit it.
• After this your NPS account will be opened.

Benefits of investing in NPS

• NPS Investment i.e. investing in NPS gives the benefit of deduction under section 80C, the limit of which is Rs 1.5 lakh.
• NPS is one of the cheapest pension schemes in the world. The benefits of compounding are available in the long run. Due to this, a big corpus is prepared for your future. At least Rs 500 can be invested in this.
• National Pension System comes under “EEE” category. Tax benefits are available on investment. Returns and maturity amount are also completely tax free.

NPS: Who can invest

• Central employee
• state employee
• Private sector employees
• ordinary citizens