Fast easy and paperless way to invest in NPS is through ETMONEY

If you are looking to build up a tax-saving retirement corpus over a long term period, the National Pension System is an ideal solution for you. The National Pension System (NPS) is a market-linked scheme which helps in saving your taxes as well as building a retirement corpus. When you invest in NPS scheme, the investment is allowed as a tax-free investment. Investment up to INR 1.5 lakhs is allowed as a deduction under Section 80 CCD (1) and an additional INR 50,000 is allowed as a deduction under Section 80 CCD (1B). Thus, investments up to INR 2 lakhs can be claimed as a deduction from your taxable income thereby lowering your taxability and at the same time helping you invest for retirement.

Since NPS gives you dual benefits of retirement planning and tax saving, many of you choose to invest in NPS scheme. When it comes to investments, you have the option of choosing the online or offline mode of investment. While the offline mode includes visiting the branch of an authorized bank to open an account, you can invest in NPS scheme online through some simple steps. In fact, the ETMONEY App gives you a quick, easy and paperless way to invest in the NPS scheme online with a few simple steps.

The ETMONEY App is a mobile application that helps you invest in different avenues for meeting your financial goals. NPS investments are also allowed by the ETMONEY App. You can simply download the application on your Smartphone and open a NPS account within minutes. Here’s the process of investing in NPS scheme online using the ETMONEY App –

• After you download the application on your Smartphone, register and create your profile

• Once your profile is created, you can choose to invest in NPS scheme through the option ‘Retire Rich’ on the application’s home page

• You can also get to know the features of the scheme, its tax benefits, how the investment works and some scheme related questions for a complete understanding of the scheme.

• Once you understand the scheme completely, you can invest by clicking on ‘Invest Now’ tab

• You would have to provide specific details to complete the investment. To start with, you have to mention whether you are investing in NPS for the first time or you have an existing investment and your date of birth.

• Then you have to choose the investment profile. There are three risk profile options of Aggressive, Moderate and Conservative and you have to choose a profile based on your risk appetite. Aggressive means high risk through equity investments, Conservative is low risk through debt investments and Moderate is moderate risk through a mix of equity and debt investments.

• After the risk profile has been selected, choose a fund manager from the available list and the amount of money that you want to invest

• You have to agree to the terms and conditions of the application to proceed to invest in NPS

• Click ‘Continue’ to see the total amount of investment including GST

• Confirm the amount and provide your PAN Card number which is compulsory

• Verify your PAN number and choose your residential status

• Enter your bank account details. You would also have to scan and upload a copy of the canceled cheque of your bank account

• On successful completion of the transaction, you would get a confirmation message and the PRAN account number associated with your NPS account

The whole process of investing in NPS scheme online through the ETMONEY App takes a few minutes and once you are done your NPS account is opened. You can, then, invest as and when you like to build up your retirement corpus.

The Internet has simplified and sped up the process of investments and the ETMONEY App gives you a platform to start your retirement corpus easily. So, choose to invest in the NPS scheme online using the ETMONEY App for a quick and paperless way to build up your retirement fund.