An account can be opened in the name of the minor, but it must be operated by a guardian, ensuring that the minor is the sole beneficiary of the funds. Parents can easily open the NPS Vatsalya account either online or through physical channels, including major banks and India Post, all of which are registered with PFRDA. A list of Point of Presence (POPs) can be accessed on the PFRDA website.
Account Opening Requirements
To open an NPS Vatsalya account, guardians must provide proof of the minor’s date of birth, which can include documents like a birth certificate, school leaving certificate, or passport. Additionally, the guardian must submit their KYC documentation, including proof of identity and address such as Aadhaar or a driving licence.
A Permanent Account Number (PAN) or a Form 60 declaration is also required. For guardians who are non-resident Indians (NRIs) or overseas citizens of India (OCIs), a NRE/NRO bank account for the minor is necessary.
