ICICIdirect and FundsIndia, both offer New Pension Scheme (NPS) Account online. But both the options are not completely online, you would need to complete the paperwork (part online and part offline) and send them filled application form by post with supporting documents . So it’s part online and part offline.
How to Open ICICI Direct-NPS Account?
To open New Pension Scheme (NPS) Account with ICICI Direct. You need to have an ICICI Direct account. If you don’t have ICICI Direct Account, first open ICICI Direct account.
Pre-conditions for Openning ICICI Direct-NPS Account
1- You should not hold any pre-existing account under NPS
2- You should have an existing PRAN (Permanent Retirement Account Number) holder with any other POP.
NPS Account Opening Process
It’s a four step process, where you need to fill-in following info (detailed process-download here) –
Step 1 : Personal Information
Step 2 : Nomination Details
Step 3 : Scheme Preference
Step 4 : Declaration and Authorization
Now download the form, take a print out and sign it and send it across to ICICI Direct with following documents –
1- Two copies of pan card – both self-attested
2- Two copies of address proof – both self-attested
3- The cheque for the opening investment written in the name of “ISSL collection account – NPS Trust”
4- An additional cancelled cheque if opening a Tier-II account
You will be provided PRAN allotment letter by CRA.
Note – Just to keep in mind that if you are opening an NPS account by making an online application on ICICI Direct, you will be provided PRAN allotment letter by CRA and not the PRAN Card. But if you want the physical PRAN Card, you can apply for the physical PRAN card on ICICI Direct. You need to submit a duly filled physical PRAN request form (available on the “Place Service Request” page of the ‘NPS’ page) and send to it to ICICI Securities Ltd (NPS Operations Dept).