Pension Scheme In IDBI Bank

I required your help to know more about National Pension System (NPS) of IDBI Bank, for that will you please help me here?

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As you want to know information about IDBI Bank, National Pension System (NPS) here I will gather information for you.

The National Pension System (NPS) of IDBI Bank is a voluntary, defined contribution retirement savings scheme which is designed to enable the customers to make effective decisions regarding their future.

Eligibility
A citizen of India including NRI (individual carrying valid Indian Passport can join NPS)

Age between 18 years and 60 years at the time of submission of application

Complied with KYC (Know Your Customers) norms

Types of account
Tier I Account: This is known as pension account and is mandatory to open. Withdrawal is restricted from this account till the subscriber attains the age 60.

Tier II Account: This is normal investment account and is optional to open. Subscribers can withdraw from this account as per their requirements.

Contribution Requirement for NPS Accounts:
Particulars Tier I Tier II
Minimum Contribution required at the time of Account opening
Rs. 500 Rs. 1000
Minimum Subsequent Contribution Amount required Rs. 500 Rs. 250
Minimum Contribution required per year Rs. 6000 Rs. 250
Minimum number of contribution required in a year 1 1

In Tier-II A/C minimum unit holding at the end of each Financial Year should be Rs. 2000

NPS gives Subscribers an option to invest according to their own choice and risk appetite among three funds also known as Asset Classes:

Asset Class Description
E Equity
C Fixed Income Instruments other than Govt. Securities
G Government Securities

Address:-
IDBI Bank
IDBI Tower, WTC Complex,
Cuffe Parade, Colaba, Mumbai 400005

Phone:-
1800-200-1947
1800-22-1070