Key features of Tier-II account
• No additional CRA charges will be levied for account opening and annual maintenance in
respect of Tier II. However, CRA will charge separately for each transaction in Tier II, the
charges being identical to the transaction charge structure in Tier I.
• There will be no limits on number of withdrawals.
• There will be facility for separate nomination and scheme preference in Tier II.
• The subscriber would have the same choice of PFMs and schemes as in the case of Tier I
account in the unorganized sector.
• Contributions can be made through any POP/POP-SP.
• There will be facility of one-way transfer of savings form Tier II to Tier I.
• Bank details will be mandatory for opening a Tier II account.
• No separate KYC for Tier II account opening will be required; the only requirement is a preexisting
Tier I account.