National Pension System Vatsalya (NPS Vatsalya)

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The NPS Vatsalya scheme is covered under National Pension System (NPS) under section 12(1)(a) and section 20 of the Pension Fund Regulatory and Development Authority Act, 2013.

NPS Vatsalya Scheme helps develop disciplined saving habits and gives the child a head start in building wealth and retirement corpus with flexible contribution and investment choices. NPS Vatsalya secures the future of its young subscribers by creating wealth from an early age so as to empower the young subscribers, emanating from the vision of "Viksit Bharat@2047".

The scheme is regulated by the Pension Fund Regulatory and Development Authority (PFRDA) in accordance with the provisions of the PFRDA Act, 2013, regulations and guidelines issued by the Authority.

All minors who are citizens of India are eligible to participate in the scheme on a voluntary basis.

Bandhan Bank services include:

Registration of customer (the account will be opened and operated by the guardian on behalf of the minor) under NPS Vatsalya
Processing subscriber contribution
Handling service requests
Managing customer grievances

Minimum Contribution: Open an account with just ₹250 (Minimum Annual Contribution)
Permitted Asset Class:
- Equity & related investments: Up to 75%
- Short-term debt instruments & related investments (Money Market)*: Up to 10%
- Debt Instruments & related investments: Up to 30%
- Government Securities & related investment: Up to 20%
  
  *The money market limit will apply once the scheme corpus exceeds ₹5 crore.
Regulated: The scheme is regulated by the Pension Fund Regulatory and Development Authority (PFRDA) in accordance with the provisions of the PFRDA Act, 2013, regulations, guidelines, circulars or instructions issued from time to time
Market Linked Return: Based on the chosen asset allocation (Equity, Debit, Govt. Securities, Money Market)

NPS Vatsalya: Below 18 years
Applicable to all minors Indian citizens only (Resident, Non-Resident and OCIs)
Only existing NPS Vatsalya subscribers are permitted to continue under the scheme until the age of 21
Parents or legal guardians can open and manage the NPS Vatsalya account on behalf of the minor.
Must fulfill Know Your Customer (KYC) requirements as per the Subscriber Registration Form (SRF).
1. KYC of the guardian (Aadhaar, Driving License, Passport, Voter ID card, National Rural Employment Guarantee Act (NREGA) Job Card, or National Population Register documents)
2. Proof of date of birth of the minor (Birth Certificate, School Leaving Certificate, Matriculation Certificate, Minor Permanent Account Number (PAN), or Passport
3. PAN of the guardian
4. Minor's sole or joint NRE/NRO bank account, in case of OCI/NRI guardian (Optional in case of Indian Residents)

Point of Presence (POP) service provider charges.

Charge structure applicable from 01.01.2026 for Common Schemes (All Citizen) including NPS Vatsalya and NPS Lite
Particulars	The charges for NPS Common Schemes (All Citizen and Corporate Model) including NPS Vatsalya and NPS Lite
One Time Onboarding charge	Onboarding charge ₹200* per new account (equivalent of ₹50 on quarterly basis will be deducted through cancellation of units by CRA/s and payable to PoP in the month subsequent to the quarter in which on-boarding is completed).
Annual charges	0.20% p.a. of the AUM to be adjusted through NAV and payable to PoP on quarterly basis, in accounts other than dormant accounts. This shall be applicable to all existing NPS accounts as well.
Notes: GST or other taxes if applicable, shall be charged additionally. Dormant account will not be charged. Dormant account is defined as such account where subsequent to a contribution in a quarter, there is no contribution for four consecutive quarters as identified at the end of each quarter. *Where subscriber onboarding is undertaken through a fully digital and non-face-to-face mode, between the Point of Presence (PoP) and the subscriber, a reduced one-time onboarding charge of ₹100 may be applicable, as may be determined by the Authority at the time of registration of PoP and thereafter.