The Tatkal NPS service lets eligible Indian citizens aged 18 to 85 open a market-linked pension account through BHIM using existing bank-verified KYC details.
BHIM Payments App has added a Tatkal NPS service that lets eligible users open a National Pension System account in a few minutes, without visiting a branch or filling out new paperwork, according to NPCI BHIM Services Limited. The feature was announced on 15 October and uses bank-verified KYC details already on file, allowing applicants to complete the process inside the app.
Users must enter their date of birth, choose an eligible bank account and make an initial contribution through UPI, the company said. The service is currently available to customers of State Bank of India, HDFC Bank, ICICI Bank, Axis Bank, IndusInd Bank and Bank of Baroda, with more lenders expected to be added later. Moneycontrol, LiveMint, The Economic Times and other reports said the minimum opening contribution is ₹250 and that the facility is available to Indian citizens aged 18 to 85.
Lalitha Nataraj, managing director and chief executive of NBSL, said the move is intended to widen access to pension products by allowing people to open accounts directly through a UPI app. S Ramann, chairperson of the Pension Fund Regulatory and Development Authority, said the aim is to make retirement planning easier for eligible citizens.
The scheme preserves the core features of NPS, including market-linked investments and tax benefits where applicable, while lowering the friction that has traditionally come with opening an account. By moving the process onto a payments app already used by millions of Indians, the initiative could help bring more first-time savers into long-term retirement investing.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
