State Bank of Hyderabad (SBH) New Pension Scheme Last Updated : 14 Oct 2019

State Bank of Hyderabad offers a number of benefits for those who are looking to open NPS accounts. There are two options, namely the Tier-1 and Tier-2 accounts. The entry age for both of these accounts is between 18 and 60 years.
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With a wide range of services and an ever-strengthening online presence, SBH is emerging as the bank of choice for a lot of new account holders and existing customers alike. It comes as no surprise that SBH is gaining a lot of popularity among those seeking to open NPS accounts.

Features of State Bank of Hyderabad New Pension Scheme

  • Age: The entry age for both tier I and tier II accounts is 18 to 60 years.
  • Tier-I account: Persons who hold these accounts cannot withdraw from these accounts till the age of 60. Subscriber can use NPS calculator to get an estimate of your scheme amount.
  • Tier-II account: A subscriber can withdraw from this account.
  • It should be noted that a Tier I account should be opened to open a tier II account.
  • Contribution:
    • Tier I accounts
      • The minimum contribution required at the time of opening the account is Rs.500.
      • Minimum contributions for subsequent deposits is Rs.500.
      • Minimum contribution, annually, is Rs.6,000.
      • There must be a minimum of 1 contribution every year.
    • Tier II accounts:
      • The minimum contribution required at the time of opening the account is Rs.1,000.
      • Minimum contributions for subsequent deposits is Rs.250.
      • Minimum contribution, annually, is Rs.2,000.
      • There must be a minimum of 1 contribution every year.
    • There is no limit to the maximum contribution.
    • The minimum contribution excluding bank charges for tier I and tier-II accounts is Rs.6000 and Rs.250 respectively.

Benefits of SBH New Pension Scheme

The benefits of State Bank of Hyderabad pension scheme are as follows:

  • Voluntary: All citizens and NRIs are eligible to open this account
  • Portable Subscribers can operate the account from any location across the country, even if you change your pension fund manager or city
  • Flexibile: Investors can choose his or her own fund manager and fund option
  • PRAN Card: Subscribers will receive a PRAN (Permanent Retirement Account Number) Card
  • Regulation: The PFRDA regulates the new pension scheme and focusses on transparency. NPS trust reviews the performance of fund managers

Documentation Required SBH New Pension Scheme

  • Proof of identity: The following documents can be submitted as proof of identity
    • Ration card
    • Passport
    • PAN card
    • Driving License
    • Aadhar card
  • Proof of address: The following documents can be submitted as proof of address
    • Electricity bill
    • Telephone bill
    • Bank passbook
    • Property or house tax receipt
    • House lease agreement

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Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

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