Who is eligible to invest under NPS?

Any Indian citizen in the age group of 18-60 can open an NPS account. NPS is administered and regulated by the Pension Fund Regulatory Authority of India (PFRDA). The NPS matures at the age of 60 but can be extended until the age of 70.

Is NRI allowed for NPS?

Eligibility Criteria for NRIs to Invest in NPS The NRI should be between the age of 18 and 60. NRI must have either an NRE or NRO account to contribute to the scheme. Must hold a valid Pan Card. The minimum amount to be contributed every year in NPS is rupees 6000.

Can OCI holder invest in NPS?

NPS is now made available for Overseas Citizen of India (OCI). OCI will be considered at par with Non-Resident Indian (NRI) while subscribing to NPS. The option of the NPS Tier II account will not be available for both NRI & OCI Subscribers.

Can an OCI invest in India?

According to the Reserve Bank of India guidelines, OCI or NRI cardholders can invest in residential or commercial properties. According to the guidelines, one can purchase any number of commercial or residential properties.

Who Cannot apply for NPS?

Any individual citizen of India (both resident and Non-resident) in the age group of 18-65 years (as on the date of submission of NPS application) can join NPS.

Can OCI invest in SIP in India?

Non-Residents of India (NRI), Persons of Indian Origin (PIO), and Overseas Citizens of India (OCI) are eligible for investing in Indian mutual fund SIP schemes just like the Indian residents. On top of this, no special permission is required from RBI or any other banking body to invest in the mutual fund SIP schemes.

Can OCI hold demat account in India?

Yes, US-based NRIs are allowed to open demat account in India. An NRI Demat account can be opened by a Non-Resident Indian (NRI), Overseas Citizen of India (OCI) or Person of Indian Origin (PIO) living in any country abroad.