SBI Account Holders Can Get Rs 5000 Pension/Month Under Atal Yojana: How To Apply?

Now you can join Atal Pension Yojana (APY) sitting at home if you have an account in the State Bank of India!

Read on to find out how…

What is Atal Pension Yojana?

The Atal Pension Yojana (APY) is the Government of India backed pension scheme in India primarily for workers under the unorganized sector.  Under this scheme, after a person turns 60, he/she gets Rs 1000 to Rs 5000 pension every month which is fixed on the basis of premiums.

The special feature with this scheme is that you get an income tax rebate on whatever you invest in it. 

The workers from the unorganized sector can get a guaranteed pension by investing in it. 

If they have an account in the State Bank of India (SBI), they can invest in this scheme online while sitting at home. Joining APY has become easy because of net banking.

What is the Process of Joining APY?

Let’s see the complete process of the application:

1. Log in to SBI Net Banking.
2. Click on ‘e-services’.
3. Click on the‘Social security scheme’ link when a new window opens up.
4. Click on APY
5. Now, you will be asked to fill in some details like bank accounts, name, age, and so forth.
6. After this, you will have to choose the pension option.

Choose the pension option based on your financial situation. 

For instance, if you choose Rs 1000-Rs 5000 per month. Then the amount you have to pay will be calculated based on your age, that is, it will vary based on how near you are to your retiring age.

For more details click here.