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Contribute to NPS tier 2 account (PRAN) balance via Online SBI

If you are a subscriber of National Pension Scheme (NPS) Tier 2 account (open to everyone), you can now make your contributions online via SBI (or its associate banks) Internet Banking. The two main contribution rules to keep in mind regarding Tier 2 account are:

  1. You should make atleast 1 contribution in a financial year and that contribution must be for a minimum of Rs.250
  2. You can make unlimited number of withdrawals in a financial year but must keep a minimum balance of Rs.2000 by 31 March (your balance can get lower than this in the year but by 31 March, you should top it up to be atleast Rs.2000).

It has to be noted that if the subscriber is a Central or State Government employee, then one cannot make contributions to Tier 1 account via Online, but is free to contribute to their Tier 2 account online (it is mandatory to have an active Tier 1 account to have a Tier 2 account). As said before NPS Tier 2 is also open to public (non-employees) and they can, too, make online contributions.

Registering NPS Tier 2 account

Login to your SBI (or SBH, SBP…) Internet banking account and go to Payments/Transfers section. There you can find NPS contribution link. Visit that, and you’ll find different fields to enter your details, such as your Subscriber name, PRAN number and Sector.

Needless to say that having a PRAN card is mandatory.

If you are a Central or State Government employee, select ‘Organized’ and if you are not an employee (general NPS Tier 2public), select ‘Unorganized’. Submit the details. Please be careful with the details you enter as these will not be verified by the bank nor the Central Recordkeeping Agency (CRA) once you submit your details. You will only know that you entered wrong details when you make your first online contribution and it has been rejected by CRA. So double check to avoid the trouble.

Once you have entered your Tier 2 account details, you can visit the ‘Contribution’ tab any time to make a contribution.

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