Key facts
What the official sources publish
Every value below belongs to this exact product. Select a source marker to check its context.
Service typeDefined-contribution National Pension System Tier I account service for NRIs
Source 1RegulatorPension Fund Regulatory and Development Authority (PFRDA)
Source 2Tier availability for NRIsTier I available; SBI's NRI page states Tier II is not available to NRIs
Source 3Published age eligibility18 to 70 years
Source 4Minimum opening contribution₹500
Source 5Minimum annual contribution₹1,000 total per year, with a minimum ₹500 per contribution
Source 6Partial-withdrawal rule published by SBIUp to 25% of the subscriber's own contributions after a three-year lock-in, no more than three withdrawals over the tenure, subject to regulator conditions
Source 7Exit at age 60 published by SBIAt least 40% of the corpus to annuity; up to 60% available as lump sum or staggered withdrawal through age 75; full lump sum if accumulated corpus is below ₹5 lakh
Source 8Exit before age 60 published by SBIAfter five years, up to 20% as lump sum and 80% to annuity; full lump sum if accumulated corpus is below ₹2.5 lakh
Source 9Investment flexibility published by SBIChoice of pension-fund manager; change the manager once per financial year and asset allocation four times per financial year
Source 10Fund-management charge published by SBI0.01%
Source 11Subscription channelsOnline through SBI internet banking's NPS Registration menu, or offline at a registered SBI NPS branch with the proper registration form, contribution slip and self-attested KYC documents
Source 12Recurring contribution facilityMonthly standing instruction or auto debit, created online or by physical request at a registered SBI NPS branch
Source 13POP initial registration charge₹400 excluding GST
Source 14POP contribution transaction charge0.50% of the initial or subsequent contribution, minimum ₹30 and maximum ₹25,000, excluding GST
Source 15Other POP transaction charge₹30 excluding GST for a transaction not involving a subscriber contribution
Source 16All-Citizen-model persistency charge₹50/year for annual contribution ₹1,000–₹2,999; ₹75/year for ₹3,000–₹6,000; ₹100/year above ₹6,000, recovered by cancelling units
Source 17Current linked-form warningSBI's NRI page links a CSRF whose instructions say it is for resident Indians and that a separate form applies to NRIs; obtain the correct current NRI form from SBI before applying offline
Source 18Registration-form conditionsThe linked CSRF expressly says it is for resident applicants and directs NRIs to a separate form. It permits up to three nominees whose integer shares must total 100%; Tier II registration requires bank details and a cancelled cheque showing name, account number and IFSC; tax-residence/
Source 19Contribution-slip conditionsTier I and Tier II contributions are separate transactions and each attracts its own charge. Quote the PRAN or New Application reference; make cheque/
Source 20Benefits and features
- Market-linked retirement investing with pension-fund-manager and asset-allocation choices
- Online and registered-branch subscription and contribution routes
- Portable account with published partial-withdrawal and exit options
Eligibility
- SBI's page states that Indian citizens aged 18-70 may use the NRI Tier I service and that Tier II is not available to NRIs.
- NPS returns are market-linked and not guaranteed; exit, annuity, fee, tax and eligibility rules should be confirmed under the latest PFRDA and tax provisions.
- The SBI page was last updated 13 December 2024, and its linked CSRF is expressly resident-only; obtain the correct current NRI form and document checklist from a registered SBI NPS branch for offline onboarding.
Passing a listed condition does not mean the bank will approve an application.
Documents the bank lists
- Correct current NRI NPS subscriber-registration form obtained from SBI; do not use the resident-only CSRF currently linked by the NRI page
- NPS Contribution Instruction Slip and self-attested KYC documents for offline subscription, as stated by SBI
- Current NRI identity, address, tax-residency and bank evidence required by the correct form and registered branch
- For later offline contributions: NCIS with PRAN or New Application notation and payment details; PAN copy for a cash contribution of ₹50,000 or more, as stated on the current linked slip