This article offers a brief summary of the key aspects of the RBL Bank’s National Pension System 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.
RBL Bank – National Pension System Features:
- Active Choice allows subscribers to allocate investments among three asset classes—corporate, gilt, and equity, with a maximum allocation limit of 50% for asset class E. On the other hand, Auto Choice invests across three funds based on a predefined life-cycle pattern determined by the individual’s age.
- Tax deductions are available: up to 10% of Salary (Basic + DA) under Section 80 CCD(1) within the overall ceiling of Rs. 150,000 under Sec 80 CCE. Additionally, investments of up to Rs. 50,000 qualify for tax deduction beyond the 1.5 lakh limit of 80C under sec 80CCD (1B).
- Account opening requires Rs. 500, and subsequent transactions necessitate a minimum contribution of Rs. 500 plus charges. The minimum Account Balance at the end of the Financial Year should be Rs. 2000, excluding charges and taxes. Subscribers are required to make at least 01 contribution per year.
How to invest?
Click here to invest in the RBL Bank’s National Pension System 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.