Terms and Conditions for National Pension Scheme (“NPS”)

These terms and conditions regulate the NPS feature offered by Finzoomers Services Private Limited, a company incorporated under the Companies Act 2013 with its registered office at 624-625, 6th Floor, Suncity Success Tower, Golf Course Extension Road, Sector - 65 Gurugram, Haryana- 122005 India (“Company”, “We”, “Our”, “Us”) which offers its services & product through its website and mobile application (“Platform”) under the name and style of INDmoney (“INDmoney”). The Company is registered with Pension Fund Regulatory and Development Authority (‘PFRDA’) as Point of Presence-Online vide registration number POP362042023. These terms and conditions are specific to the explore and access the facility of NPS investment feature which may include but are not limited to account opening, contributions, fund allocation, account management, and information dissemination related to the NPS (“Services”) provided to You ( “Users” , “Your”). By accessing or using the NPS feature, the User shall be subject to Terms & Conditionsand Privacy Policy of the Platform and shall be governed by them. Company reserves at its sole discretion the right to change or modify, from time to time, any provision related to NPS or these Terms, which also include, changing of the extent and scope of NPS and/or include any other category, service, facility or feature.

These specific terms and conditions set below shall be applicable and governing NPS Services:

  1. Eligibility:
    1. Users must be a resident Indian citizen, aged between 18 and 70 at the time of submitting their application to the Company, and must have a registered account on the INDmoney Platform.
    2. In order to avail the Services, Users must undergo the KYC process for NPS investment on the Platform. If a User has already completed KYC on the Platform, they can proceed with the investment in the NPS Plan. If not, KYC must be completed before initiating the investment.
    3. Users must adhere to the KYC norms outlined in the Subscriber Registration Form (‘SRF’). All mandatory documents required for KYC compliance must be submitted by the user.
    4. The SRF must be duly filled with necessary details, including photograph, signature, scheme preferences, etc. KYC documentation for proof of identity and address must be submitted along with the SRF.
    5. Investments in selected NPS Plan are subject to completion of all formalities, including KYC, and submission of required documents/information.
    6. To utilize our Services, you must meet the eligibility criteria established by PFRDA. By accessing our Services, you confirm your compliance with these criteria and commit to providing accurate and correct information. It is your sole responsibility to inform the Company promptly about any changes in the information and data you provide.
  2. The Company facilitates investments into the Tier-I NPS Account only, where users can contribute savings for retirement. This account is non-withdrawable, which means the amount invested by the User is not subject to withdrawal. Tax benefits against contributions can be claimed by the User only upon the successful allocation of units, subject to the prevailing Income Tax rules.
  3. For the Tier-I investment account, the minimum contribution at the time of account opening and for all subsequent transactions is INR 500. The minimum annual contribution is INR 1,000, excluding charges and taxes. Any failure to meet the minimum annual contribution for Tier-I accounts results in the freezing of account and further transactions will be allowed only after the account is reactivated. To reactivate the account, the User must pay the minimum contributions and settle applicable penalty charges. The User at the minimum needs to contribute once in a year.
  4. Upon opening an NPS account, it is essential to appoint a nominee in the designated section of the SRF. You have the flexibility to change the nominees for your NPS Tier I account at any time after receiving your PRAN.
  5. Once your NPS account is opened, the Central Recordkeeping Agency (‘CRA’) will send a "Welcome Kit" containing your unique Permanent Retirement Account Number (‘PRAN’) and complete information furnished by you in the Subscriber Registration Form. The PRAN will be the primary means of identification and operation of your NPS account. Users will receive a Telephone Password (‘TPIN’) for accessing the NPS account via CRA Customer Care and an Internet Password (‘IPIN’) for online account access at the CRA website (www.npscra.nsdl.co.in) from the CRA.
  6. The User acknowledges that contributions made after business hours or on non-business and national/bank holidays will be processed on the next business day. The Net Asset Value (‘NAV’) will be allocated once communicated by the CRA and the User understands that the NAV might not be of the same day as that of the debit of the amount from Users bank account. The User understands that there will be a time lag between the amount debited from their bank account and the allotment of units.
  7. You irrevocably acknowledge and agree that the settlement to the respective bank account(s) is facilitated by the banks and payment gateway partner entities, and such settlements will be executed on a best effort basis in accordance with their specified timelines. In the context of transferring funds for NPS, the applicable NAV for the purchase of units in the respective NPS scheme is contingent upon the realization and availability of funds in the bank account of the NPS Trustee account before the relevant cut-off timings, regardless of the investment amount. In adherence to PFRDA Guidelines, we commit to making best efforts to ensure that funds are debited on the same day and settled to the NPS Trustee bank account in accordance with the respective cut-off timings.
  8. Funds cannot be transferred from Tier-I to Tier-II accounts. Users are not allowed to have multiple NPS accounts. Contact npssupport@indmoney.com. for assistance if an existing account is inaccessible.
  9. If the Company or CRA identifies false, incorrect, or incomplete information provided by the User or if payments are made from a bank account of which the User is not the account holder, the Company reserves the right, at its sole discretion, to reject the opening of the NPS account and/or deny any further contributions.
  10. The Company may offer services of only one CRA at times, subject to its discretion.
  11. Credit of units in NPS account will take at least two working days and is subject to receipt of clear fund from Payment Gateway Service Provider. Saturday, Sunday and public holidays are excluded from the timelines. You can check the Transaction Statement for credit of units.
  12. DISCLAIMERS

    FINZOOMERS IS A REGISTERED POINT OF PRESENCE (POP) - ONLINE WITH PFRDA TO FACILITATE NPS-RELATED SERVICES. POP SERVICES OFFERED BY FINZOOMERS IS NO WAY TO BE CONSIDERED A RECOMMENDATION, ADVICE, OR SOLICITATION. INVESTMENTS IN THESE INSTRUMENTS MAY ENTAIL MARKET-RELATED RISKS, AND FINZOOMERS IS NOT LIABLE FOR ANY LOSSES OR CHANGES IN FUND VALUE OR NET ASSET VALUE (NAV). UNITS ARE ALLOCATED BY THE PENSION FUND HOUSES / PENSION FUND MANAGER, AND WE DO NOT PROVIDE ANY WARRANTY OR ASSURANCE REGARDING THE ACCURACY OF THE CALCULATION OF NET ASSET VALUE (NAV) OR THE UNITS ALLOTTED BY THE PENSION FUND HOUSES / PENSION FUND MANAGER.

    THE COMPANY DOESN’T GUARANTEE ANY RETURNS.

    YOU ACKNOWLEDGE AND CONFIRM THAT, FOR ANY INVESTMENTS MADE IN A PENSION FUND HOUSES, YOU HAVE DILIGENTLY READ AND UNDERSTOOD THE TERMS OUTLINED BY THE RESPECTIVE PENSION FUND HOUSES, AVAILABLE ON THEIR WEBSITE OR ON THE WEBSITE OF CRA AND/OR PFRDA. IT IS CRUCIAL FOR YOU TO CONSISTENTLY REVIEW ALL TERMS PROVIDED ON THE CRA AND/OR PFRDA WEBSITE, IN ADDITION TO THE TERMS SPECIFIED IN THIS DOCUMENT.

    FINZOOMERS DO NOT RECOMMEND OR ADVISE ON SPECIFIC SCHEMES, ALLOCATIONS, OR FUND MANAGERS. NPS INVESTMENTS ARE ENTIRELY AT THE USER'S DISCRETION. CONTRIBUTION PAYMENTS ARE SUBJECT TO POP SERVICE CHARGES, CONVENIENCE FEES, ONE-TIME ACCOUNT OPENING FEES, AND APPLICABLE TAXES, WITH THE ACTUAL INVESTED AMOUNT BEING NET OF CHARGES AND TAXES. ANY APPLICATION MADE BY THE USER ALREADY REGISTERED HAVING NPS ACCOUNT IS LIABLE TO BE REJECTED. YOU AGREE THAT THE INVESTED AMOUNT, FEES AND ANY CHARGES PAID BY YOU ARE NON- REFUNDABLE.

    USERS ARE ADVISED TO REFER TO PFRDA.ORG.IN AND/OR RELEVANT PENSION FUND HOUSES / PENSION FUND MANAGERS WEBSITE TO UNDERSTAND RISKS, CRA CHARGES, AND OTHER FACTORS AFFECTING YOUR INVESTMENTS, BEFORE INVESTING. PAST PERFORMANCE MAY OR MAY NOT BE SUSTAINED IN THE FUTURE.

    BY USING THE PLATFORM, YOU ACKNOWLEDGE THAT THE COMPANY MAY OBTAIN WITHOUT LIMITATION YOUR KYC INFORMATION, BANK ACCOUNT INFORMATION, PAN DETAILS, PERSONAL INFORMATION FROM ANY OF ITS AFFILIATES OR GROUP COMPANIES. YOU FURTHER PROVIDE YOUR IRREVOCABLE AND UNCONDITIONAL CONSENT TO THE COMPANY FOR THE SHARING OF YOUR INFORMATION, WITH CENTRAL RECORDKEEPING AGENCY (INCLUDING KRA, CKYC), PENSION FUND HOUSES / PENSION FUND MANAGERS, NPS TRUST, REGULATORY BODY OR OTHER AUTHORITY(IES) AND INDMONEY GROUP COMPANIES. YOU EXPRESS NO OBJECTION TO THIS PROCUREMENT AND PROVIDE EXPLICIT CONSENT. YOU ALSO AGREE TO ABIDE BY PENSION FUND HOUSES / PENSION FUND MANAGERS TERMS AND CONDITIONS RELATED TO YOUR INVESTMENTS.

    THE COMPANY IS NOT LIABLE FOR DISPUTES REGARDING SERVICES PROVIDED BY THE SELECTED CRA.

    THE PLATFORM OFFERS INFORMATION AND SERVICES RELATED TO THE NATIONAL PENSION SCHEME FOR THE CONVENIENCE OF USERS. HOWEVER, USERS ARE EXPLICITLY ADVISED THAT THE CONTENT AND SERVICES PROVIDED SHOULD NOT BE CONSIDERED AS FINANCIAL ADVICE. IT IS HIGHLY RECOMMENDED THAT USERS CONSULT WITH QUALIFIED FINANCIAL ADVISORS BEFORE MAKING ANY INVESTMENT DECISIONS. THE COMPANY DOES NOT PROVIDE ANY REPRESENTATION, GUARANTEE, OR WARRANTY REGARDING THE ACCURACY, COMPLETENESS, OR RELIABILITY OF SUCH INFORMATION. ADDITIONALLY, THE COMPANY HOLDS NO LIABILITY FOR ANY LOSSES OR DAMAGES INCURRED AS A RESULT OF USER RELIANCE ON THE PROVIDED INFORMATION.

    USERS SHOULD BE AWARE THAT INVESTMENTS IN THE NPS CARRY INHERENT MARKET RISKS. THE PERFORMANCE OF INVESTMENTS CANNOT BE GUARANTEED, AND USERS SHOULD CAREFULLY CONSIDER THESE RISKS BEFORE MAKING ANY FINANCIAL DECISIONS RELATED TO NPS.

    THE PLATFORM IS PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS ONLY. COMPANY DISCLAIM ANY AND ALL WARRANTIES AND REPRESENTATIONS, EXPRESS OR IMPLIED, INCLUDING ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE AS TO PLATFORM, INCLUDING THE INFORMATION, DATA, SOFTWARE OR PRODUCTS CONTAINED THEREIN OR THE RESULTS OBTAINED BY THEIR USE OR AS TO THE PERFORMANCE THEREOF. THE USER AGREES THAT COMPANY SHALL NOT BE HELD RESPONSIBLE FOR DELAYS IN TRANSMISSION OF ORDERS DUE TO BREAKDOWN OF THE SYSTEM OR FAILURE OF COMMUNICATION FACILITIES EITHER DUE TO THE FAULT OF THE SYSTEMS OF COMPANY OR OF THE CRA OR OTHERWISE OR FOR ANY OTHER DELAY BEYOND THE REASONABLE CONTROL OF COMPANY.

    COMPANY MAY USE THE DATA TO PERSONALISE AND CUSTOMISE YOUR EXPERIENCE ON BEST EFFORTS BASIS. HOWEVER, STRONGLY URGES TO ITS CLIENTS TO MAKE WELL INFORMED INVESTMENT DECISIONS BY STUDYING AND UNDERSTANDING THE INVESTMENT PRODUCTS. USER MAY IN ITS SOLE DISCRETION DECIDE WHETHER TO DISREGARD IT (IN WHOLE OR IN PART) OR TO ACT UPON IT (IN WHOLE OR IN PART).