This article offers a brief summary of the key aspects of the Canara Bank‘s National Pension schemes. Since these details are subject to frequent updates, please refer to the bank’s official website for the most current information on features and interest rates.
Canara Bank – National Pension Scheme Features:
- Individual citizens of India falling within the age bracket of 18 to 70 years, including both residents and non-residents, have the eligibility to open a single-holder type NPS account.
- Non-Residential Indians (NRIs) can open an NPS account via online mode, granting them access to the benefits provided.
- Only one NPS account is permitted for a single individual; multiple accounts are not allowed.
- For subscribers who enroll in the NPS before the age of 60 years, contributions can continue up to 60 years of age, extendable for an additional 15 years.
- For subscribers joining the NPS after the age of 60 years, contributions are permitted up to 75 years of age, with a mandatory lock-in period of 3 years.
- The National Pension Scheme does not offer a fixed rate of interest; returns are determined by the market performance of the funds invested in market-linked securities.
- The subscriber registration fee amounts to Rs. 200.00 plus applicable GST, collected upfront. Additionally, the initial or subsequent contribution incurs a charge of 0.50% of the contribution amount from the subscriber, with a minimum of Rs. 30 and a maximum of Rs. 25,000, plus applicable GST, collected upfront.
How to invest?
Click here to invest in the Canara Bank’s National Pension schemes.
Note: The information presented here is sourced from publicly available data. We cannot be held responsible for any inaccuracies in the details. For the most current and accurate information, please visit the official website of the respective bank/institution.