The South Indian Bank is one of the largest private banks to offer the New Pension Scheme (NPS) which was launched by the Government of India. It is registered under the Pension Fund and Regulatory and Development Authority(PFRDA) of India.
Incorporated during the Swadeshi movement, the South Indian Bank, which was among the first banks from Kerala to successfully introduce the core banking system is now the third largest private sector bank network in India.
The South Indian Bank provides a wide range of services including personal banking, NRI banking and business banking among others.
The Pension Fund Regulatory and Development Authority (PFRDA) appointed the South Indian Bank as a Point of Presence (PoP). The South Indian Bank has, in turn, zeroed in on around 750 select branches as Point Of Presence Service Provider (POP-SP). From 2009 onwards, the new pension scheme is available for all citizens of the country in addition to government employees.
A new pension scheme can be opened by any individual aged between 18 to 60 years not excepting NRIs. Since the South Indian Bank is a Point of Presence, all prospective subscribers can approach the designated branches of the bank to receive their Permanent Retirement Account Number (PRAN) and make contributions.
The benefits of South Indian Bank new pension scheme are as follows:
You will have to provide your address proof, identity proof, age proof, and your photographs to open an NPS account with the South Indian Bank.
Click here for Online NPS Registration' can be found on the South Indian Bank's official website. Complete the required fields. The bank will open the South Indian Bank NPS account upon verification.
One of the biggest private banks offering the NPS is South Indian Bank. It is authorised by the Indian PFRDA.
No, it is not permitted under NPS for one person to open several NPS accounts. An individual may, however, hold both an account in the Atal Pension Yojna and an NPS account.
An NRI may, in fact, open an NPS account. Regulations that are periodically set by the RBI and FEMA apply to NRI contributions. However, HUFs and cardholders with OCI (Overseas Citizens of India) and PIO (Person of Indian Origin) status are ineligible to register NPS accounts.
Anyone who is an individual citizen of India and is between the ages of 18 and 70 (as of the application submission date for NPS) is eligible to join.Anyone who is an individual citizen of India and is between the ages of 18 and 70 (as of the application submission date for NPS) is eligible to join.
No, an NPS account may only be formed on an individual basis; it may not be opened jointly or for the benefit of HUF.
PPF offers nearly risk-free returns because it is fully supported by the government. Returns: PPF offers low but consistent returns of about 7-8%, although NPS can sometimes offer up to 10%. Liquidity: Because NPS offers more chances for partial withdrawal, it has a marginally higher liquidity.
Credit Card:
Credit Score:
Personal Loan:
Home Loan:
Fixed Deposit:
Copyright © 2025 BankBazaar.com.