NEW DELHI: India’s largest personal finance app, ETMONEY, has now become the first in the country to introduce National Pension Scheme (NPS) investments on its platform.

With low management costs of just 0.01% annually (i.e. an annual charge of Rs 1 for every Rs 10,000 managed), and overall investment costs of about 0.02% (including back-office operations), the NPS is the world’s lowest-cost investment product for long-term retirement savings.

With industry-defining innovations and a reach of over 75 lakh Indians who have downloaded the app, ETMONEY has already become the largest contributor to new NPS accounts on a daily basis for the last couple of weeks.

ETMONEY has now overhauled the investments process in the NPS, introducing one-tap payments and instant investments, generating the Permanent Retirement Account Number in real-time, which otherwise, takes weeks. With the deadline for submitting tax proofs not very far, ETMONEY’s attempts to channel low-cost NPS investments that are proven to translate into higher returns than traditional long term savings products.

Santosh Navlani, COO – ETMONEY said, “India has one of the youngest working populations in the world. In a decade or two from now, we will possibly have a rising number of retirees from Private Sector Companies. Unfortunately, NPS has not seen wider adoption due to a lack of distributor interest. The low cost, which is what works for NPS has stopped the distributors from taking it to young savers as commissions are equally lower. With ETMONEY’s digital-only approach to financial services, we are leveraging our low-cost technology & still make it economically viable for us to take this product to retail investors at scale. So far less than 10 lakh citizens have invested in NPS since inception. We aim to add another 10 lakh NPS investors in the next 2-3 years & help Indians retire rich.”

READ  SBI reduces MCLR across all tenures by up to 15 bps

(ETMONEY is a Times Internet company, publisher of the website,



Please enter your comment!
Please enter your name here