How to invest in National Pension Scheme (NPS) online
The National Pension Scheme (NPS) is regulated by the Centre. While central Government employees are mandatorily covered by this scheme, the NPS is open to all Indian citizens on a voluntary basis too.
How to invest in National Pension Scheme (NPS) online: Among many investment options, a critical one is called National Pension Scheme, which is offered by the Indian government for not only its own employees but also for other citizens. NPS comes with a wide variety of benefits like tax exemption, investment in equity as well as fixed income and acts as a long-term retirement fund, guaranteed return and security scheme. However, did you know, now you can also make investment in NPS in a completely digital and paperless manner. Fisdom and Lakshmi Vilas Bank have partnered to enable investments in NPS online. With this launch Fisdom is the first Fintech company to provide NPS digitally.
P Mukherjee, MD & CEO, Lakshmi Vilas Bank said, “It is our continuing endeavor to bring more financial products digitally; through our fintech partner Fisdom, we are glad to bring NPS for everyone and to encourage them to invest smarter. This association will be part of our broader focus on diversifying and offering products and services in the banking and financial space”
This service has been made available on the Fisdom mobile app and Lakshmi Vilas Bank (LVB) will be the Point of Presence for the NPS service.
Using the Fisdom app, any registered user can invest in NPS within couple of minutes without any paperwork; the user can choose the risk profile and fund they want to invest in. After investments, the user can also track the value of their NPS portfolio on the app.
LVB is lining up an array of services as a part of its digital focus. This association with Fisdom will help the customers plan their finances in a better way. Using this application, the customer will be able to plan their investments under the pension scheme in accordance with their goals.
The Fisdom app includes services like getting the KYC done, investing money in various instruments like mutual funds and pension funds, viewing account summary, withdrawing invested money among many other services.
Subramanya SV, CEO and Co-founder of Fisdom stated, “We are delighted to partner with Lakshmi Vilas Bank to bring NPS to customers across the country. This new feature of investing in NPS through the Fisdom app, would help everyone make smart pension related investments for their future in a hassle free way.
Fisdom is a Bangalore based startup that uses cutting edge technology to solve inherent issues with financial investments by making investing easy to understand, quick and highly accessible through a mobile and web app.