Can I pay NPS through credit card?

The National Pension Scheme (NPS) is the best pension investment facility. The Pension Fund Regulatory and Development Authority is in charge of running this pension programme (PFRDA). For my retirement planning, I am thinking about investing in NPS over the long run. So let me tell you about the NPS contribution through credit card.

Can we pay NPS through credit card?

The Authority has decided to discontinue the ability to pay subscription services in the Tier 2 account of NPS using a credit card as a method of payment. Hence, it is advised that all points of presence (PoPs) discontinue accepting credit cards as a form of payment. It is for Tier 2 NPS accounts with effect immediately, as per the PFRDA advisory. Credit card payments will still be accepted for Tier 1 NPS accounts. Credit card payments for stocks or mutual fund investments are prohibited since they require excessive borrowing of high-interest funding. Now you know can I pay NPS through credit card.

How to make an online contribution using a credit card?

• If you want to contribute, you must go to the official website and choose "Contribution."

• Choose "Contribute Online" under the "Transact Online" tab if you are making a contribution using your NPS account to log in.

• The eNPS website will be directed to you.

• Next, enter your date of birth and Permanent Retirement Account Number (PRAN).

• Choose the method (SMS or email) via which you want to receive the OTP in order to verify PRAN.

• Now type the CAPTCHA code and select "Verify PRAN" from the menu. 

• Depending on what option you selected, an OTP will be sent to the registered phone number and email.

• After entering the OTP and having the PRAN confirmed, choose which account (Tier I or Tier II) the contribution will be applied to and input the sum.

• After you enter the payment information to the website, it will calculate the final amount due after including the necessary fees.

• Select "Make Payment" after selecting a payment method and agreeing to the conditions of payment.

• The online payment website will now lead you, where you can choose "Credit Card" as your method of payment.

You are now aware of the NPS contribution through credit card.