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NBFC extends national pension scheme services for NRIs, domestic customers. 5 key points.


Leading gold loan NBFC in the country, Muthoot Finance on Thursday extended its National Pension Scheme (NPS) services to both its domestic and NRI customers. Muthoot is extending its NPS service to more potential customers through enhanced digital conveniences such as its website and the iMuthoot app. The company is an authorized NPS service provider by the Pension Fund Regulatory and Development Authority (PFRDA).

Muthoot began offering NPS in 2012. NPS is a systematic and strategic retirement solution.

George Alexander Muthoot, Managing Director, of Muthoot Finance, said, “As part of our commitment to facilitate comprehensive and diverse financial services to our customers, we are excited to extend the National Pension Scheme to our domestic and NRI customers.”

George further said, “We understand the importance of retirement planning and believe that NPS provides a secure and stable source of income in our customers’ post-retirement years. We remain committed to transform Muthoot Finance into a diversified financial institution, enabled by technology that caters to the evolving needs of our customers today.”

Here are some key highlights of Muthoot Finance’s NPS offering:

– By extending its NPS services to its customers, Muthoot plans to provide its customers with an additional avenue for long-term retirement planning as well as benefit them with a tax concession of up to 50,000 under subsection 80 CCD (1B).

– Also, the company’s iMuthoot application enables the customers to have a ‘Do It Yourself Model’ where any user can quickly submit the application and complete the NPS registration all by themselves.

– Muthoot currently has over 5,800 branches spread across PAN India. It makes the company well-positioned to offer a hassle-free investment and saving experience to its customers.

– Muthoot leverages its extensive phygital presence to extend this offering, which can be availed either through their nearest branch or by remitting their payment seamlessly on the company’s website or the iMuthoot application available on iOS and Android devices, as per the statement.

– Apart from the NPS, Muthoot Finance also provides a multi-channel approach to serve its investors by offering a plethora of investment options on its platform, including insurance, gold coins, NCDs, and mutual funds.

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