NPS Contributions- NPS Tier 2 Contributions Using Credit Card Not Allowed
The National Pension System ( NPS) is a voluntary, defined contribution retirement savings plan designed to help members make the best decisions for their future by allowing them to save consistently throughout their working lives.
A subscriber may withdraw a lump sum payment equal to 40% of their investment at maturity without paying taxes on it.
Anything over 40% will be taxed, with a lump sum withdrawal limit of 60%.
When you open an NPS Tier II account, you must contribute at least Rs 1,000.
Contributions to Tier II NPS accounts are only required to be made in multiples of Rs 250, with no upper limit.
A Tier II NPS account provides greater withdrawal flexibility,". and there is no exit load charged when you withdraw funds from your Tier II NPS account.
NPS Tier II investments, on the other hand, are not tax- free
Who is eligible for Tier 2 NPS accounts?
Tier-2 NPS account.
How to Make NPS Tier II Payments
NPS subscribers can make payments online at or through the NPS mobile app, using a debit card or net banking.
Subscribers can also donate through any POP- SP or affiliated Nodal Office.
By Ajeeta Bhatia Goodreturns source: Dailyhunt