Report Wire - NBFC extends nationwide pension scheme for NRIs, home clients. 5 pointers

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NBFC extends nationwide pension scheme for NRIs, home clients. 5 pointers

2 min read
Muthoot began offering NPS in 2012. NPS is a systematic and strategic retirement solution. (Priyanka Parashar/Mint)

Leading gold mortgage NBFC within the nation, Muthoot Finance on Thursday prolonged its National Pension Scheme (NPS) companies to each its home and NRI clients. Muthoot is extending its NPS service to extra potential clients via enhanced digital conveniences akin to its web site and the iMuthoot app. The firm is a licensed NPS service supplier by the Pension Fund Regulatory and Development Authority (PFRDA).

Muthoot started providing NPS in 2012. NPS is a scientific and strategic retirement answer.

George Alexander Muthoot, Managing Director, of Muthoot Finance, stated, “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 additional stated, “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 providing:

– By extending its NPS companies to its clients, Muthoot plans to offer its clients with a further avenue for long-term retirement planning in addition to profit them with a tax concession of as much as ₹50,000 beneath subsection 80 CCD (1B).

– Also, the corporate’s iMuthoot utility allows the purchasers to have a ‘Do It Yourself Model’ the place any person can rapidly submit the appliance and full the NPS registration all by themselves.

– Muthoot at present has over 5,800 branches unfold throughout PAN India. It makes the corporate well-positioned to supply a hassle-free funding and saving expertise to its clients.

– Muthoot leverages its in depth phygital presence to increase this providing, which may be availed both via their nearest department or by remitting their cost seamlessly on the corporate’s web site or the iMuthoot utility out there on iOS and Android gadgets, as per the assertion.

– Apart from the NPS, Muthoot Finance additionally offers a multi-channel method to serve its buyers by providing a plethora of funding choices on its platform, together with insurance coverage, gold cash, NCDs, and mutual funds.

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