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2. NPS Tier II Account (Voluntary Savings Account)
The Tier II account is a voluntary savings account that offers greater flexibility in withdrawals but does not provide the same tax benefits as Tier I. It is only available to those who have an existing Tier I account.
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Types of PRAN Accounts: Tier I vs Tier II:
Tier II Account (Voluntary): It is similar to a savings account with easy deposit and withdrawal facilities. It does not offer tax benefits unless you are a government employee by chance.