How to add NPS account as beneficiary in SBI?

 

 

Hi friends, in this blog we are discussing on the topic ‘how to add NPS account as beneficiary in SBI’. Actually when we invested amount in NPS account we had to go through NPS app or eNPS website till now. But now government offers to NPS customer to generate virtual account number against their NPS account.

 

Now you can add your NPS account in your internet banking as beneficiary and transfer money through your net banking directly. If you use NPS virtual account number to transfer money to your NPS account you will get the same day NAV. You will get the same day NAV only when you have transferred the amount within the cut off timings.

 

Before adding the NPS account to your net banking beneficiary list you need to generate virtual Id against your NPS account. If you don’t know how to generate virtual account number of your NPS account then I have already written a blog on it. You can read the process by clicking here.

 

How to add NPS account as beneficiary in SBI:

You can add your Virtual Account number to any bank’s internet banking beneficiary list. But here we are discussing how to add NPS account as beneficiary in SBI.

 

After applying for virtual Id of NPS account you will get the virtual Id on email. On the mail you also get the IFSC code, types of account, Bank name etc. After getting this details go through the following steps to add the account as beneficiary in SBI.

 

STEP 1: Go to SBI internet banking login page and login using your internet banking user ID and password.

 

STEP 2: After logged in to your account you will see an option ‘my accounts and profile’ on the upper bar of the page. Click on this option.

 

STEP 3: After clicking on this options some more options will be appeared. Here you will find an options ‘Profile’. Click on this option also. After clicking on this option some other options will also be appeared. Click on the option ‘Add manage beneficiary’.

 

STEP 4: Now you have to enter profile password here. Enter the profile password and click on ‘submit’.

 

STEP 5: In this page you will see some different options under ‘Add & Manage beneficiary’ option. Click on the option ‘other bank beneficiary (account holder of other bank)’.

 

STEP 6: A new page will open. In this page you have to enter name of the NPS account holder, virtual account number, confirm account number, address of account holder and a transfer limit. Enter all the details from the e-mail received from NSDL.

 

After entering the details select the option IFSC. After selecting the option you will ask to enter the IFSC code. Enter the IFSC code checking from the email. Accept the terms and conditions thereafter and click on the ‘submit’ button.

 

STEP 7: Here you will see your account details which you have entered on the above steps. Check all the details again and click on ‘confirm’ if all is OK otherwise click on ‘Cancel’ and reenter the details.

STEP 8: Now you have to approve your beneficiary which you have added on the above steps. You will see an ‘approve’ option under the massage on this page. Click on the ‘approve’ button.

 

You will also get an OTP on your registered mobile number.

 

STEP 9: In this new page you will see two options approve beneficiary and approve limit. You have to select any one of them. Select the option ‘approve beneficiary’.

 

STEP 10: Another two options will appear. One is approve through ATM. You can approve the beneficiary instantly through any SBI ATM in India. The other option is approve through OTP. If you chose this option then you can approve the beneficiary through OTP but the beneficiary will be activated after four hours.

 

Select the option approve through OTP.

 

STEP 11: Now Select account number which you have to approved and enter the OTP received on your registered mobile number. After entering the OTP click on the box click on ‘approve’ button.

 

STEP 12: Now your account is added to beneficiary list and successfully approved. But it will activate after four hours. If you have added the account after 8 PM or on a holiday then it will be activated on the next day.

 

After activated the beneficiary a massage will send to your mobile number and then you can transfer amount using this beneficiary. If you want to start a SIP to NPS account then you can set a ‘standing instructions’ after four days of activation of the account number.

This is the process how you can add your NPS virtual account number to SBI beneficiary list.