State Bank Of Patiala Pension Scheme

I want to get the details of New Pension Scheme (NPS) of State Bank Of Patiala so can you please provide me?

[pawan]

The New Pension Scheme (NPS) has been introduced by Government of India to give pension benefits to the common man specially those who are self employed such as shopkeeper and professionals and those in the unorganized sector.

New Pension Scheme (NPS)

Benefits –

It is flexible
It is portable
It is voluntary and is open to every Indian citizen.
It is simple
It is regulated by Pension Fund Regulatory & Development Authority (PFRDA)

Any person between age group of 18 years to 60 years can join this scheme.

Persons not eligible to open account under NPS –

The following applicants cannot join:

1. Undischarged insolvent

2. Individuals of unsound mind

3. Pre-existing account holders under NPS.

Opening of Accounts

Under this scheme two types of accounts can be opened by the subscribers i.e. Tier I & Tier II.

Under Tier I account no amount can be withdrawn by the subscribers up to the age of his retirement.

The opening of Tier II account is optional.

The subscribers are free to withdraw their savings as per their requirement.

Contribution by the subscribers For Tier-I Accounts

Minimum amount per contribution - Rs 500

Minimum contribution per year - Rs 6,000

Minimum number of contributions -01 per year

The subscriber can contribute the amount through cash, local cheque, demand draft or Electronic Clearing System (ECS) at his/her chosen POP-SP.

No outstation cheque shall be accepted.

State Bank Of Patiala New Pension Scheme (NPS)







For more details here is the attachment


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