There is a pension scheme opened for Indian citizens named as” Atal Pension Yojana”. Well, under this scheme, a defined pension amount is given to the Indian citizen after the individual turns 60 years of age.
The scheme basically includes those people who belong to the unorganized sector (the people who do not have much exposure to other forms of social security). However, there are 5 different options for the monthly pension amount such as;
- 1,000,
- 2,000,
- 3,000,
- 4,000, and
- 5,000.
The monthly pension amount depends on the age of the individual, frequency and the monthly pension option chosen. However, the pension amount will get increased with the age of the individual. Well, when it comes to applying for Atal Pension Yojana, it can be done both ways: ‘Online and Offline’.
How to Apply for Atal Pension Yojana Online?
By following the below-mentioned steps, you can apply for this scheme with ease:
Step 1:
Visit the official website of the bank in which you are already having a savings account and then log in with the net banking credentials.
Step 2:
Now in the next step, you’re required to download the Atal Pension Yojana application form.
Step 3:
Once you’ve downloaded the application form, you need to fill in the form with relevant details. The details majorly include personal information, your Aadhaar card details, bank account details, and contact number.
Step 4:
In this step, you will be asked to add the nominee as well as to enter the details that whether you are entitled under social schemes and are an existing taxpayer. After filling all these information, you are allowed to opt for the pension scheme ranging from ₹1,000 to ₹5,000.
Step 5:
In the last step, you will need to submit the duly signed form online and you can directly pay to APY from your net banking account. You have another option to link your account to the APY so that a fixed amount can be auto-debited monthly from your account.
How to Apply for Atal Pension Yojana Offline?
For applying offline, you are required to visit your nearest nationalized bank which is eligible to offer the benefits of this scheme. From the bank, you can collect the form and fill it in with all the relevant details.
Then, submit the form along with the attached photocopies of your Aadhaar card and other required documents. However, the Atal Pension Yojana Application form majorly comprises the following sections so we recommend you to take a look at these sections to avoid any confusion while applying:
- Section 1 – In this section, you’ll enter the bank details such as your bank’s name and account number etc.
- Section 2 – In the next section, you are required to fill in the personal details such as your name, marital status, contact number, and Aadhaar card number etc.
- Section 3 – In this section, you are required to choose among the pension options from Rs. 1000 to Rs. 5000.
Well, your bank representative will fill in the monthly contribution section. Also, the APY form contains an “Acknowledgement” segment which a bank official will fill and sign once you will submit the application form.