NPS Vatsalya Scheme 
State: Central
Ministry: Ministry Of Finance
Department: Pension Fund Regulatory & Development Authority
Category: Banking,Financial Services and Insurance
Beneficiary Type: Individual

NPS Vatsalya is a contributory saving cum long-term financial security scheme designed exclusively for minors for the purposes of enhancing financial literacy and financial planning and to encourage empowerment of children, emanating from the vision of "Viksit Bharat@2047.

Benefits:
1. **Power of compounding along with financial security** -  Starting early allows money to grow significantly over time through compounding creating a financial cushion for the future.1. **Financial discipline**: Small, regular investments build a strong habit of saving and planning.1. **Empower your child:** Early exposure to saving builds responsible financial behaviour for life.1. **Tax Efficient** - Attractive tax benefits under the Income Tax Act, 1961.1. **Optimum Returns** - Provides market-linked returns based on pension funds’ performance.1. **Transparent** - 24/7 online access to the account, with mandatory public disclosures ensuring transparency.
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Eligibility:
1. The scheme is available to all Indian citizens who are aged below 18, including Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs)
1. The account should be opened by parents/guardian in the minor&#39;s name, as they will operate the account exclusively for the benefit of the minor.
1. If the guardian is court-appointed, they must submit a copy of the court order confirming the guardianship and KYC documents.
1. The guardian must comply with KYC norms as per the Pension Fund Regulatory and Development Authority (PFRDA) requirements.

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Application Process:
[Online]
Step 1: Visit the NPS Trust Website.
Step 2: On the home page click, “Open NPS Vatsalya”
Step 3: Subscriber will be directed to the page where the choice of any of the three CRAs can be made.
Step 4: On selecting the CRA, subscriber needs to enter the basic details of the Minor and the Guardian and complete OTP authentication.
Step 5: KYC details of the guardian such as Name, Date of Birth, Gender, Address, and Photo will be fetched from UIDAI database or CERSAI database and rest of the details to be filled. Proof of Date of Birth of minor should be uploaded.
Step 6: FATCA details and declaration to be entered and the choice of Investment Option should be made.
Step 7: Details to be verified through OTP authentication through email and mobile number.
Step 8: Initial contribution amount  of Min Rs 250/- to be  made 
Step 9: PRAN will be generated after successful payment.

[Offline]
You may also visit any Point of Presence (PoP) registered by the PFRDA which are Public Sector Banks, Private banks, RRBs, Pension Funds and brokers etc, to open NPS Vatsalya account.

Documents Required:
Proof of date of birth of the minor (Birth Certificate, School Leaving Certificate, Matriculation Certificate, Minor Permanent Account Number (PAN), or Passport); AND
KYC of the guardian (Aadhaar, Driving License, Passport, Voter ID card, National Rural Employment Guarantee Act (NREGA) Job Card, or National Population Register documents); AND
PAN of the guardian or Form 60 declaration as per Rule 114B
 Minor's sole or joint NRE/NRO bank account, in case of OCI/NRI guardian (Optional in case of Indian Residents.