The National Pension System (NPS) has been witnessing good growth in number of subscribers on account of market-linked return potential, freedom to choose between different asset classes and the additional tax-saving benefit of up to ₹50,000 on annual investments in Tier 1 NPS account.

With the financial year about to end, subscribers may be searching quick ways to invest in NPS. Apart from the usual routes that DIY investors can utilise for NPS investments, there is a facility called D-Remit (Direct Remittance) that can be a handy tool for investors looking to get same-day NAV (net asset value).


First, subscribers can deposit their subsequent contributions at any Point of Presence Service Provider (POP-SP) or Nodal Offices of the NPS, either in cash or by cheque. POP-SPs are banks or other firms that provide services under NPS through their network.

While the minimum amount stipulated per contribution is ₹500 and ₹250, for tier 1 and tier 2 accounts, respectively, there is no cap on the maximum amount of contribution (for both the accounts). However, those depositing contributions in excess of ₹50,000 using cash are required to submit KYC documents to the POP-SP.

Note that the minimum contributions mentioned above are for subsequent contributions only. For the initial contribution at the time of registration, one needs to contribute at least ₹500 and ₹1,000 in tier 1 and 2 accounts, respectively.

While the NPS units shall be allotted two days after the funds are credited to the trustee bank of NPS, the contributions made through nodal offices or POP-SP may take time to get credited to the trustee bank (delays can be due to deposit of cash collected and cheque clearance).


Secondly, contributions through eNPS (through the e-NPS website or using the mobile application) — made through net banking, debit card, credit card or UPI — are also credited to your NPS account on a T+2 basis.

Compared with deposit of cheques or cash, online payment methods cause fewer delays in fund clearance.


However, with the end of the financial year approaching fast, subscribers may prefer to make their contributions using a much faster mode. This is where the direct remittance facility launched by NPS in October 2020 is more useful. D-Remit is an electronic system through which money can be directly transferred from your bank account to the trustee bank so that you can get same-day NAV for your NPS investment.

Subscribers only need to have a virtual id with a trustee bank to use D-Remit, used only for the purpose of remitting NPS contributions. The id can be created on the CRA (Central Recordkeeping Agency) websites. NPS customers can go to either of these two links to create virtual ids:,

After this, the subscriber needs to carry out virtual account registration using the Permanent Retirement Account Number (PRAN).

The creation of the account may take up to one working day. A confirmation on activation is sent via mail and SMS. In case, you are using the D-Remit facility for both the tiers, two separate virtual accounts are created. Subscribers won’t incur any additional costs for creating the ids.

Next, you will have to login to the net banking facility of your bank and add the virtual account generated as a beneficiary account, along with your name as per CRA records, as the beneficiary’s name. The IFSC code for the virtual id shall be UTIB0CCH274. After adding the beneficiary, funds can be remitted using RTGS/NEFT/IMPS modes.

Those who wish to get the-same day NAV will have to make the contributions before 9. 30 am (on a working day). The minimum contribution through D-Remit is ₹500 for both tier 1 and tier 2 accounts, while there is no cap on the maximum contribution.

Investors must note that akin to mutual funds, one can make lumpsum contributions or opt for Systematic Investment Plan (SIP) in NPS as well. You can also set a standing instruction through the same internet banking login for investing a specified amount at regular intervals in your NPS accounts, to the beneficiary added (virtual ids).

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