Atal Pension Yojana: Atal Pension Yojana Eligibility Criteria: The central government provides benefits to different sections of society through a variety of schemes. Some schemes provide free medical treatment, others provide assistance with house construction, while others even provide direct financial assistance, which is sent to the beneficiaries’ bank accounts.
One such scheme, the Atal Pension Yojana, provides pensions to beneficiaries. This scheme is essentially an investment plan, where you first pay a premium, and then receive a monthly pension of up to Rs 5,000 after the age of 60. But is this scheme open to everyone, or is there an eligibility list? Let’s explore the eligibility criteria for this scheme.
How to invest?
Under Atal Pension Yojana, the premium depends on the pension plan and age. Under this scheme, you receive a monthly pension of Rs 1,000 to Rs 5,000. If someone is 18 years old, he gets a pension of Rs 5000 by paying a premium of Rs 210 every month. Similarly, if someone is 30 years old, then by investing Rs 577 every month, he can get a pension of Rs 5000 after 60 years.
You have to invest in this scheme for at least 20 years. Then after the age of 60, you get the benefit of pension every month.
Who can apply and who cannot?
If you are a citizen of India, you are eligible, You are eligible even if you are not a taxpayer Applicant must be between 18-40 years of age. It is also mandatory to have a bank account for the application.
How to apply for Atal Pension Yojana?
- First of all, go to your bank branch to apply.
- Go here and meet the bank officer and tell him that you want to join the Atal Pension Yojana.
- Then your KYC is done first
- After this, you will be given information about the pension plan and premium.
- Your bank account is then linked to the scheme and your name is added to the scheme.