Open an NPS account instantly using the BHIM app—the process is completed in just 3 steps..
There is good news for those looking to start investing for their retirement. Opening a National Pension System (NPS) account has now become even easier. A 'Tatkal NPS' facility has been introduced on the BHIM app, allowing eligible individuals to open an NPS account digitally from the comfort of their homes—without the need for lengthy procedures or extensive paperwork.
**Available to individuals aged 18 to 85**
Eligible Indian citizens between the ages of 18 and 85 can utilize the Tatkal NPS facility. This has significantly simplified the process of opening an NPS account. Currently, this facility is available to customers of select banks, with the possibility of more banks being added in the future.
**How to open an NPS account via the BHIM app?**
To open an NPS account, first open the BHIM app and select the 'NPS' option. You will then need to enter your date of birth and select a bank account for which the KYC process has already been completed. Following this, you must make an initial contribution via UPI.
**Start investing with as little as ₹250**
Opening an account through Tatkal NPS requires an initial minimum contribution of ₹250, which can be paid via UPI. Once the payment is processed, the account-opening procedure will proceed. This makes it easier for first-time investors to begin their NPS journey.
**Why is the NPS important for retirement?**
The NPS is a long-term retirement savings scheme. Funds invested in it are allocated across various investment options. Long-term investment can help build a substantial corpus for retirement. However, before investing in the NPS, it is essential to understand its rules, associated risks, and potential returns.
**Simplified retirement planning through digital means**
The primary advantage of the Tatkal NPS facility is that the entire account-opening process can be completed digitally. This will reduce the need for people to visit an office or go through a lengthy process to start investing in the NPS. The ease of getting started via the BHIM app could help promote retirement planning.
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