South Indian Bank Ltd. Head Office T.B Road, Mission Quarters, Thrissur 680 001,Kerala, India
NPS
The National Pension System (NPS) is a government-initiated pension scheme designed to provide financial stability post-retirement. With South Indian Bank, you can open an NPS account with ease and enjoy benefits like tax savings, market-linked returns, and personaliSed investment options. Whether you're a salaried employee or self-employed, our NPS services are tailored to meet your retirement goals.
South Indian Bank offers a customer-friendly approach with easy account opening, expert guidance, and trusted service. We ensure quick processing, secure transactions, and seamless management of your retirement fund.
Trust & Security South Indian Bank is a PFRDA-certified Point of Presence (PoP) for NPS accounts. Enjoy secure transactions and a hassle-free experience with our expert team.
NPS offers two account types, Tier 1 and Tier 2, each designed to cater to different financial needs and goals. Note that opening a Tier 2 account requires an active Tier 1 account. Tier 1 NPS Account
Tier 2 NPS Account
Choosing the Right NPS Account
Both accounts provide professional fund management and a balanced portfolio across equity, corporate bonds, and government securities, ensuring growth and stability.
The National Pension System (NPS) offers a variety of funds to cater to the diverse investment needs of subscribers. These funds are managed by professional fund managers and provide a mix of equity, debt, and government securities. Subscribers can choose the allocation of their investments among these funds based on their risk appetite and financial goals.
Equity (E) fund
Corporate debt (C) fund
Government securities (G) fund
Alternative investment (A) fund (Available for NPS private sector only)
Investment choice options
The variety of fund options under NPS ensures flexibility and caters to the needs of investors with varying risk profiles and financial objectives. Whether you're looking for growth, stability, or diversification, NPS provides a structured and efficient way to build your retirement corpus.
Online Application: Fill out the NPS Account Form and upload your documents. Or
Prepare your documents in advance to enjoy a hassle-free application process.
View detailed fee structures and calculate your potential corpus with our NPS Calculator. View Charges
To get answers to the frequently asked queries
National Pension System (NPS) is a defined contribution pension. NPS is voluntary for subscription by an individual to make contributions to his/her Individual Pension Account during the working life for creating a pension corpus from which regular income will be generated after retirement / working age. NPS is mandatory for the Central Government recruits w.e.f. 1st Jan 2004 (except armed forces) which replaced the earlier defined benefit pension and has been subsequently adopted by almost all State Governments for their employees.
Hindu Undivided Families (HUFs) and Persons of Indian Origin (PIOs) are not eligible for subscribing to NPS. NPS is an Individual Pension Account and cannot be opened on behalf of a third person. The applicant should be legally competent to execute a contract as per the Indian Contract Act.
Yes. NPS can be voluntarily subscribed along with any other pension scheme(s). However, an individual cannot have multiple NPS accounts.
The amount of pension will depend on the amount of contributions made, accrual/returns on the investments and the portion of corpus utilised by the subscriber for purchasing annuity plan from any of the Annuity Service Providers empanelled with PFRDA.
Under NPS, there is no implicit or explicit assurance of benefit and the investments are subject to market conditions.
NPS caters to the Central Government (CG) Sector, State Government (SG) Sector, Corporate Sector and All Citizen Sector. Individuals subscribing to NPS voluntarily are classified / categorized under All Citizen Sector.
NPS has a unique unbundled architecture wherein each intermediary (PoP, Pension Fund, Central Recordkeeping Agency, Trustee Bank, Annuity Service Provider, Retirement Advisors, Custodian, NPS Trust) is assigned a specialized activity by the Regulator. This ensures economies of scale and operational/intermediation costs at bare minimum to subscribers. This unique structure safeguards subscribers’ interest as the role of a particular intermediary is limited to the functions assigned to it and no single intermediary/entity has complete control over NPS as a System.
Each intermediary is entitled to recover the following prescribed charges from the subscriber towards the services rendered by them:
*GST or other Govt. taxes as applicable to be collected additional to the above charges Additional Charges by Intermediaries:
If a subscriber opts not to have a physical PRAN Card or Welcome Kit, reduced account opening charges of CRA are applicable as under:
Tier-II transaction charges are same as Tier-I.
An NPS account can be opened through:
Under NPS account there are two types of accounts – Tier I & Tier II. Tier-I is the Individual Pension Account, which is the default pension account having all the tax incentives under Income Tax Act. Tier-II is an optional investment account available to a subscriber having an active Tier-I account. This account has no withdrawal restrictions and tax benefits. Tier-II is not a Pension Account.
*Subscriber can select different Pension Fund and Investment Option for Tier I and Tier II.
Refer to form for accepted documents. For Residents:
For NRIs/OCIs:
You’ll receive an Acknowledgement No. and a kit within ~2 weeks.
A unique Permanent Retirement Account Number, unchanged across employment or sector.
PoP, CRA website/app, or Phone (Toll-free: NSDL 1800 222 080 / Kfintech 1800 208 1516)
Via PoP (cheque/cash) or online (web, app). Invested per fund/asset choice.
Within 3 working days. SMS/email confirmation sent. Statement sent annually.
As per asset guidelines by PFRDA:
Your account becomes ‘frozen’, but can be reactivated.
Submit Form S2 / ISS to PoP with proof (if required).
Check the statement via CRA web/mobile login. Also sent by email/physical.
Compare using NPS Trust website:
You can withdraw in the following ways:
(Allowed max 3 times in total)
Your account continues automatically till 75. You can exit any time before that. Mandatory exit at 75.
More info: PFRDA link
14 ASPs are empanelled, including:
Types of annuity plans include:
Compare plans at: cra-nsdl.com/CRAOnline/aspQuote.html
Directly from the ASP, as per the annuity plan selected and purchased.
Tier-I account – Tax benefits on Contributions
Tier-I account – Tax on Withdrawals / Exit
Tier-II account
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