Bank of Baroda – The National Pension System (NPS) is a retirement-oriented savings scheme regulated by the Pension Fund Regulatory and Development Authority (PFRDA). It is designed to provide a financial cushion post-retirement by encouraging individuals to make systematic investments during their earning years.
Bank of Baroda (BOB) offers the NPS scheme to its customers, allowing them to open an NPS account with ease. This scheme provides an opportunity for individuals to save for their retirement while enjoying various tax benefits.
Opening an NPS account with BOB is a simple and hassle-free process. Customers can opt for both online and offline modes to register for the scheme. The process involves the following steps:
You may also want to know HDFC NPS
To open a BOB NPS account, individuals must fulfill the following criteria:
NPS accounts are classified into two tiers:
Subscribers can contribute to their NPS accounts through both lump-sum and periodic investments. The contribution structure is as follows:
| Account Type | Minimum Contribution (Opening) | Minimum Annual Contribution |
| Tier I | Rs. 500 | Rs. 1,000 |
| Tier II | Rs. 250 | No mandatory requirement |
The NPS scheme offers attractive tax benefits under the Income Tax Act, of 1961:
You may also want to know Bhamashah Yojana
Once an NPS account is opened, the status can be checked through:
By opening an NPS account with the Bank of Baroda, individuals can secure their retirement while enjoying tax benefits and market-linked returns. Whether opting for online or offline registration, the process is simple, flexible, and highly rewarding for long-term savings.
Calculate your pension here at NPS Calculator
Yes, you can open an NPS account online through Bank of Baroda’s official website by submitting KYC documents and making the initial contribution.
For a Tier I account, the minimum annual contribution required is Rs. 1,000, whereas for a Tier II account, there is no minimum balance requirement.
Yes, Non-Resident Indians (NRIs) are eligible to open an NPS account in Bank of Baroda, provided they adhere to KYC norms.
You can check your NPS balance by logging into the NSDL website, using the BOB online banking portal, or via the PFRDA mobile app.
If you fail to contribute the minimum required amount, your NPS account will become inactive. You can reactivate it by paying the required minimum contribution along with penalty charges.
Investors get deductions up to Rs. 2 lakh under Section 80CCD(1) and 80CCD(1B), and employer contributions are deductible under Section 80CCD(2).
Withdrawals depend on the type of account: Partial withdrawals are allowed under Tier I after 3 years for specific purposes. Full withdrawals upon retirement (60 years) require 40% investment in an annuity.
No, as per PFRDA guidelines, an individual is allowed to hold only one NPS account.
Get the link to download the App
