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Open ICICI 3-in-1 Account

Secure your child’s financial future with NPS Vatsalya

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NPS
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What is NPS Vatsalya Plan?

  • For Children under 18: A long-term savings plan for minors.
  • Government Regulated: Safely managed by the Pension Authority (PFRDA).
  • Parent-Led: Parents invest money for their child's future.
  • Auto-Upgrades at 18: Turns into a regular adult NPS account.
  • Future Security: Builds a steady financial cushion for your child.

Features and Benefits

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Long-Term Financial Security

Provides a solid foundation for long-term financial stability.

Low Cost
Affordable & flexible contributions

Parents can start with small contributions and gradually increase them over time.

Flexibility
Financial Responsibility

Introduces the concept of pension planning at a young age that helps foster financial responsibility.

Attractive Returns
Protect Against Uncertainty

Helps protect against future uncertainties and financial challenges.

Portable
Future Financial Planning

Offers flexibility in future financial planning, allowing for adjustments as needed.

Portable
Power of Compounding

Benefits of compound interest can significantly enhance the growth of the investment over time.

Exit & Withdraw

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After Turning 18
  • NPS Vatsalya Account converts into NPS Tier-1 Account
  • 3-year lock-in period applied with 25% self-contribution withdrawal criteria
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Premature Closure (on Turning 18):
  • If corpus < ₹ 2.5 lakh, withdraw 100% lump sum tax-free
  • If corpus > ₹ 2.5 lakh, minimum 80% to be invested in annuity for monthly pension
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In case of Death
  • Accumulated amount is returned to the parent or guardian.

How to Open an NPS Vatsalya Account

Step 1:

Keep your (parent’s / guardian’s) Aadhaar Card, PAN Card and the minor’s birth certificate ready.

Step 2:

Register online via the eNPS website or visit a Point of Presence (POP). ICICI Bank is a POP for NPS.

Step 3:

Fill in the guardian’s and minor’s details in the NPS Vatsalya registration form.

Step 4:

Upload the scanned documents online / submit their copies at the POP.

Step 5:

A Unique PRAN (Permanent Retirement Account Number) will be issued post NSDL / PFRDA verification.

Eligibility Criteria to Open an NPS Vatsalya Account

  • Age Limit: NPS Vatsalya is exclusively for minors under the age of 18 years.
  • Residency Status: Available to Indian citizens, Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs).
  • Guardian’s Role: Must be opened and operated by a parent or legal guardian until the child turns 18.
  • Re-verify at 18 years: Requires a fresh KYC verification at age 18 to convert into a regular NPS Tier-1 account

Documents Required to Open an NPS Vatsalya Account

  • KYC documents of the parent / guardian - Aadhaar Card and copy of cancelled cheque
  • Birth certificate of the minor (child)
  • School leaving certificate / Matriculation certificate of the minor (child) issued by the Higher Secondary Board of respective states, ICSE, CBSE, etc.
  • Passport of the minor (child)
  • PAN Card of the parent / guardian
  • Latest passport-sized photographs of both the minor (child) and the parent / guardian

Frequently Asked Questions

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NPS is regulated by Pension Fund Regulatory and Development Authority (PFRDA). ICICI Securities Limited is a PFRDA registered POP with Reg. no.: 05092018.
ICICI Securities is just acting as distributor and all disputes with respect to such distribution activity, would not have access to SCORES/ODR, Exchange investor redressal forum or Arbitration mechanism.